0001580695-20-000148.txt : 20200401 0001580695-20-000148.hdr.sgml : 20200401 20200401145535 ACCESSION NUMBER: 0001580695-20-000148 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20200331 FILED AS OF DATE: 20200401 DATE AS OF CHANGE: 20200401 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: 20765011 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_033120.xml OWNERSHIP DOCUMENT X0306 4 2020-03-31 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 2067275 D 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 2020-03-31 4 J 0 620 A 2020-03-31 Common Stock 620 41912 I Through B&S Cowart II Family LP Mr. Cowart was issued 620 shares of Series B1 Preferred Stock in-kind effective on March 31, 2020, in lieu of $967.20 of dividends which accrued on the Series B1 Preferred Stock shares held by Mr. Cowart for the quarter ended March 31, 2020. 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 2020-04-01