0001580695-20-000095.txt : 20200302
0001580695-20-000095.hdr.sgml : 20200302
20200302172449
ACCESSION NUMBER: 0001580695-20-000095
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20191002
FILED AS OF DATE: 20200302
DATE AS OF CHANGE: 20200302
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: 20678453
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
cowart-form4_100219.xml
OWNERSHIP DOCUMENT
X0306
4
2019-10-02
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
2019-05-23
4
J
0
79854
A
2089333
D
Common Stock
2019-05-23
4
J
0
79854
D
0
I
Through The Benjamin Paul Cowart 2015 Grantor Retained Annuity Trust
Common Stock
2019-06-10
4
G
0
22058
0
A
2067275
D
Common Stock
79854
I
Through The Benjamin Paul Cowart 2015 Grantor Retained Annuity Trust
Common Stock
174085
I
Through spouse
Common Stock
70214
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
2019-10-02
4
J
0
602
A
2019-10-02
Common Stock
602
40681
I
Through B&S Cowart II Family LP
Transfer of record ownership only for tax planning purposes. No change in beneficial ownership.
Mr. Cowart was issued 602 shares of Series B1 Preferred Stock in-kind effective on October 2, 2019, in lieu of $940 of dividends which accrued on the Series B1 Preferred Stock shares held by Mr. Cowart for the quarter ended September 30, 2019. 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, 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 after June 20, 2017 and the Issuer is required to redeem the Series B1 Preferred Stock, subject to applicable law and the terms of the Series B1 Preferred Stock, at the Unit Price plus any accrued and unpaid dividends on June 24, 2020.
/s/ Benjamin P. Cowart
2020-03-02