-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EeFnUcLUBJbyQxeUDxFdPs8HtoCNpJSnFleNuUDFfrVG9M2iFLn9rPnEvc8UJtt8 X/tfoEhDujXJ5fkwG4ymxg== 0000101594-04-000116.txt : 20040702 0000101594-04-000116.hdr.sgml : 20040702 20040702162721 ACCESSION NUMBER: 0000101594-04-000116 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040701 FILED AS OF DATE: 20040702 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: LORIMER R SCOTT CENTRAL INDEX KEY: 0001065876 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-06814 FILM NUMBER: 04900198 BUSINESS ADDRESS: STREET 1: 877 NORTH 8TH WEST CITY: RIVERTON STATE: WY ZIP: 82501 BUSINESS PHONE: 3078569271 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: US ENERGY CORP CENTRAL INDEX KEY: 0000101594 STANDARD INDUSTRIAL CLASSIFICATION: METAL MINING [1000] IRS NUMBER: 830205516 STATE OF INCORPORATION: WY FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 877 NORTH 8TH WEST STREET 2: GLEN L LARSEN BLDG CITY: RIVERTON STATE: WY ZIP: 82501 BUSINESS PHONE: 3078569271 MAIL ADDRESS: STREET 1: 877 NORTH 8TH WEST CITY: RIVERTON STATE: WY ZIP: 82501 FORMER COMPANY: FORMER CONFORMED NAME: WESTERN STATES MINING INC DATE OF NAME CHANGE: 19851229 4 1 lor61.xml X0202 4 2004-07-01 0 0000101594 US ENERGY CORP USEG 0001065876 LORIMER R SCOTT 877 NORTH 8TH WEST RIVERTON WY 82501 0 1 0 0 TREASURER and CFO U.S. Energy Common Stock 2004-07-01 4 J 0 2500 0 A 144293 D U.S. Energy Common Stock 812915 I By Corporation U.S. Energy Common Stock 51057 I By ESOP Employee Option 5 (Right to Buy) 2.46 2004-07-01 4 A 0 125000 0 A 2004-07-01 2014-06-30 U.S. Energy Common Stock 125000 125000 D Employee Option 1 (Right to Buy) 2.88 1998-12-04 2008-09-05 U.S. Energy Common Stock 34782 34782 D Employee Option 1a (Right to Buy) 2.00 1998-12-04 2008-09-25 U.S. Energy Common Stock 40218 40218 D Employee Option 2 (Right to Buy) 2.40 2001-01-10 2011-01-09 U.S. Energy Common Stock 121900 121900 D Employee Option 3 (Right to Buy) 3.90 2001-12-07 2011-12-06 U.S. Energy Common Stock 100000 100000 D Employee Option 4 (Right to Buy) 2.25 2002-08-08 2011-12-07 U.S. Energy Common Stock 97000 97000 D Shares issued to the Reporting Person under the USEG 2001 Stock Compensation Plan. The issuance of these shares is for the funding obligation under the plan for the third quarter of the calendar year ending December 31, 2004. The Issuer has agreed under the terms of the Plan to pay all taxes due. The Reporting Person has agreed not to sell these shares to the market or pledge them on obligations until after his (i) retirement; (ii) total disability or (iii) in the case of the death of the Reporting Person his estate may sell the shares of stock. Includes 66,673 shares held directly by the Reporting Person. Includes 17,620 shares issued under the Restricted Stock Bonus Plan and 60,000 under the 1996 Stock Award program which are subject to forfeiture by the Reporting Person. Shares issued under the 1996 Stock Award program vest over a 5-year period at the rate of 20% per year, The forfeitable shares issued under both plans are deemed 'earned out' by the Reporting Person: (i) if he is continuously employed by USEG until he retires; (ii) if he becomes disabled; (iii) upon his death, or (iv) if the shares are claimed within three years following the occurrence of (i) (ii) (iii). The treasurer of USEG holds the shares in trust for the benefit of the Reporting Person, while non-employee directors of USEG exercise shared voting and dispositive rights over all forfeitable shares. Distributions to the Reporting Person will not be separately reported. The acquisitions of the shares by the Reporting Person from both the Bonus Plan and the Award Program are exempt under Rule 16b-3. Includes 512,359 shares held by Crested Corp. (Crested), a majority-owned subsidiary of USEG. The Reporting Person is an Officer and/or Director of both USEG and Crested and is not a controlling shareholder and does not have or share investment controll over these shares, and therefore does not have a pecuniary interest in the USEG shares held by Crested, under rule 16a-1(a)(2)(iii). Includes 175,000 shares held by Sutter Gold Mining Company (SGMC), a subsidiary of USEG. The Reporting Person is an Officer and/or Director of both USEG and SGMC and is not a controlling shareholder and does not have or share investment controll over these shares, and therefore does not have a pecuniary interest in the USEG shares held by SGMC, under rule 16a-1(a)(2)(iii). Includes 125,556 shares held by Plateau Resources Limited (Plateau), a wholly owned subsidiary of USEG. The Reporting Person is an Officer and/or Director of both USEG and Plateau and is not a controlling shareholder and does not have or share investment controll over these shares, and therefore does not have a pecuniary interest in the USEG shares held by Plateau, under rule 16a-1(a)(2)(iii). Includes shares held in the U.S. Energy Corp. Employee Stock Ownership Plan (the 'ESOP') in an account established for the benefit of the Reporting Person. Subsequent to the final year end close the number of shares issued to the Reporting Person's ESOP account may be adjusted. Includes stock options granted under the Issuer's 2001 Incentive Stock Option Plan and exempt under Rule 16b-3. Includes stock options granted under the Issuer's 1998 Incentive Stock Option Plan and exempt under Rule 16b-3. /s/ LORIMER, ROBERT SCOTT 2004-07-02 -----END PRIVACY-ENHANCED MESSAGE-----