FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
CUBIC ENERGY INC [ CBNR ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 05/15/2014 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock | 05/15/2014 | G(1) | V | 5,260,137 | D | $0.00 | 923,411 | D | ||
Common Stock | 12,397,424 | I | See footnote(2) |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 Securities Underlying Derivative Security (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: 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 | ||||||||
Series B Convertible Preferred Stock | $0.5(3) | 05/15/2014 | J(4) | 688.765 | (5) | (6) | Common Stock | 1,377,530 | (4) | 11,640.432 | I | By Langtry Mineral & Development, LLC | |||
Series B Convertible Preferred Stock | $0.5(3) | 05/15/2014 | A | 272.673 | (5) | (6) | Common Stock | 545,346 | (7) | 11,913.105 | I | By Langtry Mineral & Development, LLC | |||
Series B Convertible Preferred Stock | $0.5(3) | 05/15/2014 | A | 50.704 | (5) | (6) | Common Stock | 101,408 | (7) | 2,215.247 | D | ||||
Series B Convertible Preferred Stock | $0.5(3) | 05/15/2014 | A | 43.152 | (5) | (6) | Common Stock | 86,304 | (7) | 1,885.316 | I | By Tauren Exploration, Inc. |
Explanation of Responses: |
1. 5,000,000 shares gifted to Texas A&M University 12th Man Foundation and an aggregate of 260,137 shares gifted to children. Of the shares gifted to children, 173,424 shares gifted to dependent children. |
2. Includes 10,350,000 shares held by Langtry Mineral & Development, LLC ("Langtry"); 700,000 shares held by Tauren Exploration, Inc.; 500,000 shares held by spouse; and 847,424 shares held by dependent children. |
3. The Series B Convertible Preferred Stock is convertible into Common Stock of Cubic Energy, Inc. at a price of $0.50. The stated value per share is $1,000.00. |
4. The shares of Series B Convertible Preferred Stock were transferred in satisfaction of a pre-existing obligation of Langtry. |
5. The Series B Convertible Preferred Stock is convertible into Common Stock, subject to limitations whereby the holder may convert no more than 25% of the shares per quarter. |
6. The Series B Convertible Preferred Stock has no expiration date. |
7. The Series B Convertible Preferred Stock was issued in satisfaction of an accrued dividend. |
Calvin Wallen III | 05/19/2014 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* 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). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
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 Number. |