SEC FORM 4

SEC Form 4

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^*

DECKER MICHAEL

(Last)

(First)

(Middle)

8 INVERNESS DRIVE EAST, SUITE 100

(Street)

ENGLEWOOD

80112

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
GASCO ENERGY INC [ GSX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Exec VP and COO

3. Date of Earliest Transaction (Month/Day/Year)
12/23/2010

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								122,761	D
Common Stock	12/23/2010		A⁽⁹⁾		50,000	A	⁽⁹⁾	172,761	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Right to Buy	$2							12/31/2001	12/31/2011	Common Stock	57,000		57,000	D
Right to Buy	$1							06/10/2003⁽¹⁾	02/10/2013	Common Stock	175,000		175,000	D
Right to Buy	$1.92							11/27/2004⁽²⁾	07/27/2014	Common Stock	50,000		50,000	D
Right to Buy	$3.39							10/09/2005⁽³⁾	06/09/2015	Common Stock	80,000		80,000	D
Right to Buy	$1.99							05/23/2008⁽⁴⁾	01/23/2018	Common Stock	45,834		45,834	D
Right to Buy	$1.8							01/18/2009⁽⁵⁾	09/18/2013	Common Stock	200,000		200,000	D
Right to Buy	$1							03/15/2009⁽⁶⁾	12/15/2013	Common Stock	31,250		31,250	D
Right to Buy	$0.52							01/17/2010⁽⁷⁾	09/17/2014	Common Stock	200,000		200,000	D
Right to Buy	$0.36							10/29/2010⁽⁸⁾	06/29/2015	Common Stock	60,000		60,000	D
Right to Buy	$0.37	12/23/2010		J⁽¹⁰⁾		150,000		04/23/2011⁽¹⁰⁾	12/23/2015	Common Stock	150,000	⁽¹⁰⁾	150,000	D

Explanation of Responses:

1. Granted 350,000 options as compensation. These options vest over a 2 year period, with 1/6th of the amount vesting every 4 months commencing 6/10/03, and all options expiring 2/10/2013.

2. Granted 100,000 options under the Issuer's 1999 Stock Option Plan, subject to stockholder approval. These options vest over a 2 year period, with 1/6th of the amount vesting every 4 months commencing 11/27/04, and all options expiring 7/27/2014.

3. Granted 160,000 options under the Issuer's 1999 Stock Option Plan, subject to stockholder approval. These options vest over a 2 year period, with 1/6th of the amount vesting every 4 months commencing 10/9/05, and all options expiring 6/9/2015.

4. Granted 50,000 options as compensation. These options vest over a 2 year period with 1/6th of the amount vesting every 4 months commencing 5/23/08, and all options expiring 1/23/2018.

5. Granted 200,000 options under the Issuer's 1999 Stock Option Plan, subject to stockholder approval. These options vest over a 2 year period, with 1/6th of the amount vesting every 4 months commencing 1/18/09, and all options expiring 9/18/2013.

6. Granted 31,250 options under Issuer's 1999 Stock Option Plan, subject to stockholder approval. These options vest over a 1 year period, with 1/4 of the amount vesting every 3 months commencing 3/15/09, and all options expiring 12/15/2013.

7. These options vest over a 2 year period, with 1/6th of the amount vesting every 4 months commencing 1/17/2010, and all options expiring 9/17/2014.

8. Granted 60,000 options under the Issuer's 1999 Stock Option Plan, subject to stockholder approval. These options vest over a 2 year period, with 1/6th of the amount vesting every 4 months commencing 10/29/10, and all options expiring 6/29/15.

9. On 12/23/10, Mr. Decker was granted a restricted stock award of 50,000 shares of the Issuer's common stock pursuant to the Issuer's 2003 Restricted Stock Plan. These shares are subject to forfeiture with Mr. Decker having the right to retain 16,666 shares on or after 12/23/11, an additional 16,666 shares on or after 12/23/12, and the remaining 16,668 shares on or after 12/23/13.

10. Granted 150,000 options under the Issuer's 1999 Stock Option Plan, subject to stockholder approval. These options vest over a 2 year period, with 1/6th of the amount vesting every 4 months commencing 4/23/11, and all options expiring 12/23/15.

Remarks:

	Michael Decker	12/27/2010
	** 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).
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