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US ENERGY CORP Director's Dealing 2012

Jan 12, 2012

34687_dirs_2012-01-12_ceb38eda-e869-4f0d-9619-66209d65c7c7.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: 2012-01-12

Reporting Person: LARSEN MARK J (Director, PRESIDENT & COO)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2012-01-12 Common Stock A 8494 $2.91 Acquired 84375 Indirect
2012-01-12 Common Stock J 20148 $2.91 Acquired 201641 Indirect

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 228526 Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Stock Options (Right to Buy) $2.46 2014-06-30 Common Stock (98519) 98519 Direct
Stock Options (Right to Buy) $3.86 2015-10-13 Common Stock (100000) 100000 Direct
Stock Options (Right to Buy) $4.97 2017-07-26 Common Stock (200000) 200000 Direct
Stock Option (Right to Buy) $2.52 2018-09-21 Common Stock (75000) 75000 Direct

Footnotes

F1: Shares issued in the U.S. Energy Corp. Employee Stock Ownership Plan (the 'ESOP') in an account established for the benefit of the Reporting Person.

F2: 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.

F3: Shares issued to be held in ESOP accounts established for the benefit of members of the Reporting Persons 'Immediate Family', as that term is defined in Rule 16a-1(e), in accordance with Rule 16a-8(b)(2).

F4: Includes shares held in ESOP accounts established to benefit members of the Reporting Persons 'Immediate Family', as that term is defined in Rule 16a-1(e), in accordance with Rule 16a-8(b)(2).

F5: Includes stock options granted under the Issuer's 2001 Incentive Stock Option Plan and exempt under Rule 16b-3.

F6: Stock options granted under the Issuer's 2001 Incentive Stock Option Plan with a 5 year vesting schedule and exempt under Rule 16b-3.

F7: Stock options granted under the Issuer's 2001 Incentive Stock Option Plan which vest in three (3) equal annual installments beginning September 22, 2009.