VAALCO ENERGY INC /DE/ — Director's Dealing 2021

Mar 9, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAALCO ENERGY INC /DE/ (EGY)
CIK: 0000894627
Period of Report: 2021-03-05

Reporting Person: DesAutels David (Executive VP, Corp. Dev.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-05	Common Stock	M	84407	$0.86	Acquired	250056	Direct
2021-03-05	Common Stock	M	84407	$0.86	Acquired	334463	Direct
2021-03-05	Common Stock	M	20910	$2.33	Acquired	355373	Direct
2021-03-05	Common Stock	M	20910	$2.33	Acquired	376283	Direct
2021-03-05	Common Stock	D	84407	$3.30	Disposed	291876	Direct
2021-03-05	Common Stock	D	84407	$3.30	Disposed	207469	Direct
2021-03-05	Common Stock	D	20910	$3.30	Disposed	186559	Direct
2021-03-05	Common Stock	D	20910	$3.30	Disposed	165649	Direct
2021-03-05	Common Stock	M	26146	$0.93	Acquired	191795	Direct
2021-03-05	Common Stock	M	26146	$0.93	Acquired	217941	Direct
2021-03-05	Common Stock	M	10455	$2.33	Acquired	228396	Direct
2021-03-05	Common Stock	M	10455	$2.33	Acquired	238851	Direct
2021-03-05	Common Stock	F	40142	$3.30	Disposed	198709	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-01-05	Stock Appreciation Right	$0.86	M	84407	Disposed	2023-02-28	Common Stock (84407)	Direct
2021-01-05	Stock Appreciation Right	$0.86	M	84407	Disposed	2023-02-28	Common Stock (84407)	Direct
2021-01-05	Stock Appreciation Right	$2.33	M	20910	Disposed	2024-02-28	Common Stock (20910)	Direct
2021-01-05	Stock Appreciation Right	$2.33	M	20910	Disposed	2024-02-28	Common Stock (20910)	Direct
2021-01-05	Employee Stock Option (right to buy)	$0.93	M	26146	Disposed	2022-11-02	Common Stock (26146)	Direct
2021-01-05	Employee Stock Option (right to buy)	$0.93	M	26146	Disposed	2022-11-02	Common Stock (26146)	Direct
2021-01-05	Employee Stock Option (right to buy)	$2.33	M	10455	Disposed	2024-02-28	Common Stock (10455)	Direct
2021-01-05	Employee Stock Option (right to buy)	$2.33	M	10455	Disposed	2024-02-28	Common Stock (10455)	Direct

Footnotes

F1: Represents exercise of cash-settled SARs, which is treated as the simultaneous purchase of the number of shares for which SARs are exercised and the sale of the same number of shares. No shares were purchased or sold.

F2: Represents shares withheld to pay option exercise price and to satisfy tax withholding obligations upon the exercise of stock options.