|
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
|
| |||||||||||||||||||||||||||||
|
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (right to buy) | $ 1.23 | 07/15/2011 | D | 100,000 | (1) | 05/18/2014 | Common Stock | 100,000 | (2) | 0 | D | ||||
Warrant (right to buy) | $ 0.58 | 07/15/2011 | A | 75,000 | 07/23/2011(3) | 07/23/2014 | Common Stock | 75,000 | $ 0 | 75,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
KROMER JAMES C 4927 CALLOWAY DRIVE BAKERSFIELD, CA 93312 |
VICE PRESIDENT, OPERATIONS |
/s/ John Durbin by Power of Attorney for the Reporting Person | 07/19/2011 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The Stock Option was subject to vesting in seven 6-month installments, commencing as of May 18, 2009. |
(2) | Pursuant to the Executive Retirement Agreement and General Release, dated July 15, 2011, between Tri-Valley Corporation and the reporting person, the reporting person consented to the forfeiture of all his outstanding Company issued stock options, in exchange for a three-year Warrant to purchase 75,000 shares of Company common stock at a purchase price of $0.58 per share, the closing price of the common stock on July 15, 2011, as reported on the NYSE Amex. |
(3) | The reporting person's resignation was effective as of July 15, 2011, subject to a seven-day "cooling off" period, during which period the reporting person shall have the right to revoke his resignation and be restored to all positions with the Company. The Warrant becomes exercisable upon the expiration of the seven-day cooling off period. |
Remarks: EXHIBIT LIST: Exhibit 24.1 Power of Attorney |