US ENERGY CORP — Director's Dealing 2015

Feb 2, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US ENERGY CORP (USEG)
CIK: 0000101594
Period of Report: 2015-01-29

Reporting Person: RICHMOND STEVEN DANIEL (CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-01-29	Common Stock	A	17970	$1.48	Acquired	80817	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	104811	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$1.50	2025-01-01	Common Stock (71316)	71316	Direct
Stock Option (Right to Buy)	$2.08	2023-06-30	Common Stock (50000)	50000	Direct
Stock Option (Right to Buy)	$2.32	2022-07-10	Common Stock (25000)	25000	Direct
Stock Option (Right to Buy)	$2.52	2018-09-21	Common Stock (30000)	30000	Direct
Stock Option (Right to Buy)	$4.97	2017-07-26	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: Stock options granted under the Issuer's 2012 Equity Plan which vest in three (3) equal annual installments beginning one year from the grant date.

F4: Stock options granted under the Issuer's 2001 Incentive Stock Option Plan which vest in three (3) equal annual installments beginning September 22, 2009

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.