0001580695-18-000457.txt : 20181012
0001580695-18-000457.hdr.sgml : 20181012
20181012143017
ACCESSION NUMBER: 0001580695-18-000457
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20180630
FILED AS OF DATE: 20181012
DATE AS OF CHANGE: 20181012
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: 181120038
MAIL ADDRESS:
STREET 1: 2506 DEEP OAK COURT
CITY: HOUSTON
STATE: TX
ZIP: 77059
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
4
1
ownership.xml
OWNERSHIP DOCUMENT
X0306
4
2018-06-30
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
2018-05-16
4
G
0
89944
0
D
2024117
D
Common Stock
187274
I
Through The Benjamin Paul Cowart 2015 Grantor Retained Annuity Trust
Common Stock
244299
I
Through The Shelley T. Cowart 2016 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
2018-06-30
4
J
0
831
A
2018-06-30
Common Stock
831
37760
I
Through B&S Cowart II Family LP
Series B1 Preferred Stock
1.56
2018-09-30
4
J
0
567
A
2018-09-30
Common Stock
567
38327
I
Through B&S Cowart II Family LP
Mr. Cowart was issued 813 and 567 shares of Series B1 Preferred Stock in-kind effective on June 30, 2018 and September 30, 2018, respectively, in lieu of $1,269 and $885, respectively, of dividends which accrued on the Series B1 Preferred Stock shares held by Mr. Cowart. 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. Exempt from Section 16(b) pursuant to Rule 16b-3(d).
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.
/s/ Benjamin P. Cowart
2018-10-12