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
PROFIRE ENERGY INC [ PFIE ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 05/01/2018 | ||||||||||||||||||||||||||
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 | 04/06/2022 | A | 76,744(1) | A | $1.29 | 506,069 | D | |||
Common Stock | 05/01/2018 | F | 6,667(2) | D | $3.67 | 499,402 | D | |||
Common Stock | 06/05/2018 | M | 20,000(3) | A | $1.01 | 519,402 | D | |||
Common Stock | 06/05/2018 | F | 7,423(2) | D | $1.01 | 511,979 | D | |||
Common Stock | 06/11/2018 | G | 10,000(4) | D | $4.7 | 501,979 | D | |||
Common Stock | 06/16/2018 | F | 2,667(2) | D | $4.81 | 499,312 | D | |||
Common Stock | 06/16/2018 | F | 10,667(2) | D | $4.81 | 488,645 | D | |||
Common Stock | 03/06/2019 | F | 1,600(2) | D | $1.82 | 487,045 | D | |||
Common Stock | 03/06/2022 | F | 1,700(2) | D | $1.28 | 485,345 | D |
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 | ||||||||
Employee Stock Option (right to buy) | $1.01 | 06/05/2018 | A | 20,000 | (5) | 05/25/2020 | Common Stock | 20,000 | $1.01 | 20,000 | D |
Explanation of Responses: |
1. On April 6, 2022, the Compensation Committee of the Board of Directors approved a Restricted Stock Unit Award Agreement for the reporting person which which granted 76,744 restricted stock units, 25,281 of which vest on December 31, 2022, 25,581 of which vest on December 31, 2023, and 25,582 of which vest on December 31, 2024. |
2. Due to an administrative error the reporting person inadvertently failed to report shares that were withheld for payment of the tax liability for shares awarded pursuant to a Restricted Stock Unit Award. Section 16 forms filed after the late transaction incorrectly reported total ownership, and this Form 4 is being filed to both report the late transactions and correct total ownership as of April 6, 2022. |
3. Due to an administrative error the reporting person inadvertently failed to report the acquisition of these shares at the time of acquisition. Section 16 forms filed after the late transaction incorrectly reported total ownership, and this Form 4 is being filed to both report the late transactions and correct total ownership as of April 6, 2022. |
4. Due to an administrative error the reporting person inadvertently failed to report the disposition of these shares at the time of disposition. Section 16 forms filed after the late transaction incorrectly reported total ownership, and this Form 4 is being filed to both report the late transaction and correct total ownership as of April 6, 2022. |
5. The option became exercisable in 33.33% annual increments on each of the first three anniversaries of May 25, 2016 |
Remarks: |
Todd Fugal as attorney-in-fact for Cameron M. Tidball | 04/08/2022 | |
** 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. |