SEC Form 4: Schulte David J covered exercise/tax liability with 13,663 shares and converted options into 39,431 shares, increasing direct ownership by 89% to 54,768 units to satisfy withholding obligation
$CORR
Real Estate Investment Trusts
Real Estate
| 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
CorEnergy Infrastructure Trust, Inc. [ CORR ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 03/15/2023 | ||||||||||||||||||||||||||
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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 | 03/15/2023 | M | 39,431 | A | (1) | 68,431 | D | |||
| Common Stock | 03/15/2023 | F | 13,663 | D | $1.22 | 54,768 | D | |||
| Common Stock | 271,879 | I | By Corporation(2) | |||||||
| Common Stock | 344,525 | I | By Trust(3) | |||||||
| Common Stock | 2,570 | I | By Spouse as custodian of children's accounts | |||||||
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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 | ||||||||
| Restricted Stock Units | (1) | 03/15/2023 | M | 39,431 | (4) | (4) | Common Stock | 39,431 | $0 | 78,866 | D | ||||
| Class B Common Stock | (5) | (5) | (5) | Common Stock | 161,114 | 161,114 | I | By Corporation(2) | |||||||
| Class B Common Stock | (5) | (5) | (5) | Common Stock | 204,162 | 204,162 | I | By Trust(3) | |||||||
| Explanation of Responses: |
| 1. Each restricted stock unit (RSU) represents a contingent right to receive one share of CORR common stock. |
| 2. A corporation controlled by the reporting person. |
| 3. A trust in which the reporting person serves as trustee. |
| 4. On March 15, 2023, 39,431 of Mr. Schulte's RSUs, granted on May 26, 2022, vested. On March 15, 2023, 13,663 of the 39,431 shares underlying these newly-vested RSUs were surrendered to satisfy the tax withholding obligations triggered upon the March 15th vesting. The surrender of shares is the Company's default process for paying tax withholding obligations triggered upon the vesting of RSUs. |
| 5. The shares of Class B Common Stock will convert to Common Stock on a one-for-one basis no later than February 4, 2024 depending on certain dividend payments by the Company as described in the Articles Supplementary related to the Class B Common Stock filed with the SEC on February 10, 2021. The Class B Common Stock is entitled to one vote per share and votes with the Common Stock. |
| Remarks: |
| Exhibit List: Exhibit 24 - Power of Attorney |
| /s/David J. Schulte | 03/17/2023 | |
| ** 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. | ||