QS Energy, Inc. — Director's Dealing 2020

Apr 1, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QS Energy, Inc. (QSEP)
CIK: 0001103795
Period of Report: 2019-11-15

Reporting Person: Lane Jason B (Director, Chief Executive Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-11-15	Options	$0.12	A	300000	Acquired	2029-11-15	Common Stock (300000)	Direct
2020-03-26	Options	$	A	100000	Acquired		Common Stock (100000)	Direct

Footnotes

F1: The stock options reported under item 1 above were granted to Mr. Lane pursuant to the third amendment to his employment agreement as Chief Executive Officer, approved by the Board on 11/11/2019 and effective 11/15/2019. The Company agreed to issue to Mr. Lane options to purchase 300,000 shares of restricted common stock of the Company on 11/15/2019, vesting pursuant to a three (3) month vesting schedule, with 100,000 Options each vesting on each monthly anniversary date of the issuance date. All of the options were priced as of market price at the close of market on November 15, 2019.

F2: The stock options reported under item 1 above were granted to Mr. Lane pursuant to the fourth amendment to his employment agreement as Chief Executive Officer, approved by the Board on 03/26/2020 and effective 02/15/2020. The Company agreed to issue to Mr. Lane options to purchase 100,000 shares of restricted common stock of the Company at the beginning of each month of employment, vesting at the end of the month. All options are to be priced as of market price as of the issuance date. In order to align the issuance and vesting schedule with the calendar months, 50,000 options were issued to Mr. Lane on 02/15/2020, the effective date of the fourth amendment to his employment agreement, and vesting on 02/29/2020.

F3: As of March 31, 2020, 150,000 total options have been issued to Mr. Lane, pursuant to the terms above: 50,000 on 02/15/2020 and 100,000 on 03/01/2020.