0001580695-16-000535.txt : 20160701 0001580695-16-000535.hdr.sgml : 20160701 20160701151230 ACCESSION NUMBER: 0001580695-16-000535 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20160630 FILED AS OF DATE: 20160701 DATE AS OF CHANGE: 20160701 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Vertex Energy Inc. CENTRAL INDEX KEY: 0000890447 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] IRS NUMBER: 943439569 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 1331 GEMINI STREET STREET 2: SUITE 250 CITY: HOUSTON STATE: TX ZIP: 77058 BUSINESS PHONE: 866-660-8156 MAIL ADDRESS: STREET 1: 1331 GEMINI STREET STREET 2: SUITE 250 CITY: HOUSTON STATE: TX ZIP: 77058 FORMER COMPANY: FORMER CONFORMED NAME: WORLD WASTE TECHNOLOGIES INC DATE OF NAME CHANGE: 20040830 FORMER COMPANY: FORMER CONFORMED NAME: VOICE POWERED TECHNOLOGY INTERNATIONAL INC DATE OF NAME CHANGE: 19940831 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Cowart Benjamin P CENTRAL INDEX KEY: 0001457168 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-11476 FILM NUMBER: 161746668 MAIL ADDRESS: STREET 1: 2506 DEEP OAK COURT CITY: HOUSTON STATE: TX ZIP: 77059 4 1 cowart-form4_063016.xml OWNERSHIP DOCUMENT X0306 4 2016-06-30 0 0000890447 Vertex Energy Inc. VTNR 0001457168 Cowart Benjamin P 1331 GEMINI STREET SUITE 250 HOUSTON TX 77058 1 1 1 0 CEO and President Common Stock 2469364 D Common Stock 244299 I Through The Benjamin Paul Cowart 2015 Grantor Retained Annuity Trust Common Stock 4796761 I Through B&S Cowart II Family LP Common Stock 7500 I Through Vertex Holdings, Inc. Common Stock 100765 I Through VTX Inc. Series B1 Preferred Stock 1.56 2016-06-30 4 J 0 253 A 2016-06-30 Common Stock 253 32305 I Through B&S Cowart II Family LP B&S Cowart II Family LP, which is beneficially owned by Mr. Cowart, was issued 253 shares of Series B1 Preferred Stock in-kind on June 30, 2016, in lieu of $394.68 of dividends which accrued on Series B1 Preferred Stock shares held by B&S Cowart II Family LP. The terms of the Series B1 Preferred Stock are described in greater detail in the Current Report filed by the Issuer on May 13, 2016. The Series B1 Preferred Stock (including accrued and unpaid dividends) is convertible into shares of the Issuer's common stock at the holder's option at any time at the Unit Price (initially a one-for-one basis). If the Issuer's common stock trades at or above $3.90 per share (250% of the Unit Price) for a period of 20 consecutive trading days at any time following the earlier of (a) the effective date of a resale registration statement the Issuer is required to file to register the underlying shares of common stock, or (b) November 13, 2016, the Issuer may at such time force conversion of the Series B1 Preferred Stock (including accrued and unpaid dividends) into common stock of the Issuer. The Series B1 Preferred Stock has no expiration date; however, the Issuer has the option to redeem the Series B1 Preferred Stock at 110% of the Unit Price ($1.56) plus any accrued and unpaid dividends on such Series B1 Preferred Stock redeemed, at any time beginning on June 20, 2017 and the Issuer is required to redeem the Series B1 Preferred Stock at the Unit Price plus any accrued and unpaid dividends on June 24, 2020. Notwithstanding either of the foregoing, the Series B1 Preferred Stock may not be redeemed unless and until amounts outstanding under the Issuer's senior credit facility have been paid in full. /s/ Benjamin P. Cowart 2016-07-01