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US ENERGY CORP — Director's Dealing 2011
Jan 5, 2011
34687_dirs_2011-01-05_a872877c-6689-4ab4-bfde-717ebbdc09de.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: US ENERGY CORP (USEG)
CIK: 0000101594
Period of Report: 2011-01-03
Reporting Person: LORIMER R SCOTT (Director, TREASURER & CFO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2011-01-03 | Common Stock | M | 100000 | $3.90 | Acquired | 584492 | Direct |
| 2011-01-03 | Common Stock | M | 100000 | $3.86 | Acquired | 684492 | Direct |
| 2011-01-03 | Common Stock | M | 59640 | $4.97 | Acquired | 744132 | Direct |
| 2011-01-03 | Common Stock | M | 2 | $2.52 | Acquired | 744134 | Direct |
| 2011-01-03 | Common Stock | F | 199140 | $6.21 | Disposed | 544994 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2011-01-03 | Stock Options (Right to Buy) | $3.90 | M | 100000 | Disposed | 2011-12-06 | Common Stock (100000) | Direct |
| 2011-01-03 | Stock Options (Right to Buy) | $3.86 | M | 100000 | Disposed | 2015-10-13 | Common Stock (100000) | Direct |
| 2011-01-03 | Stock Options (Right to Buy) | $4.97 | M | 59640 | Disposed | 2017-07-26 | Common Stock (59640) | Direct |
| 2011-01-03 | Stock Option (Right to Buy) | $2.52 | M | 2 | Disposed | 2018-09-21 | Common Stock (2) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 92864 | Indirect |
Footnotes
F1: Received 60,502 net shares from the exercise of 259,642 options at strike prices ranging from $2.52 to $4.97 per share. Sufficient shares were withheld from the option exercise to cover the cost of the exercise, federal income taxes, and all statutory payroll taxes. Shares withheld were valued at the market close price on the date of exercise, January 3, 2011, of $6.21 per share.
F2: Includes shares held directly by the Reporting Person.
F3: Shares held in the U.S. Energy Corp. Employee Stock Ownership Plan (the 'ESOP') in an account established for the benefit of the Reporting Person.
F4: Includes stock options granted under the Issuer's 2001 Incentive Stock Option Plan and exempt under Rule 16b-3.
F5: Stock options granted under the Issuer's 2001 Incentive Stock Option Plan with a 5 year vesting schedule and exempt under Rule 16b-3.
F6: Stock options granted under the Issuer's 2001 Incentive Stock Option Plan which vest in three (3) equal annual installments beginning September 22, 2009.