Home > Insider Trading > Filing (0001299116-13-000001)

Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
820600	Omagine Inc.	OMAG	Non-Operating Establishments (9995)	202876380

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1299116	J Frank Drohan	350 Fifth Avenue Suite 4815-17 New York NY 10118	President & Ceo	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2012-03-30	322,730	$1.25	1,820,673	No	4	P	Direct
Common Stock	Acquisiton	2012-05-08	22,925	$34,387.00	1,820,673	No	4	A	Direct
Common Stock	Disposition	2012-12-26	7,340	$0.00	1,820,673	No	5	G	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	P	Direct
No	4	A	Direct
No	5	G	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Common Stock Purchase Options	Acquisiton	2012-01-02	750,000	$0.00	750,000	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
850,000			No	4	A	Direct

Footnotes

The Reporting Person exercised 322,730 Rights on March 30, 2012 for the purchase of 322,730 shares of the Issuer's $0.001 par value Common Stock (the "Shares") at $1.25 per Share pursuant to the Company's Rights Offering.
The exercise price for all such Rights was $1.25.
The Reporting Person was issued 22,925 restricted Shares of Common Stock on May 8, 2012 pursuant to a Board of Directors resolution. The Shares were valued at $34,387 and represent the Company's 2012 contribution for the benefit of the Reporting Person to the Omagine, Inc. 401(k) Plan.
The Reporting Person gifted 7,340 Shares of Common Stock to his son. The Reporting Person disclaims beneficial ownership of these 7,340 Shares held by his son.
The transfer of all 7,340 Shares of Common Stock valued at $1.77 per Share was a bona fide gift and involved no payment in consideration.
The Reporting Person was granted 739,000 common stock purchase options pursuant to a Board of Directors resolution dated January 2, 2012 and 11,000 additional common stock purchase options (together the "Options") pursuant to a Board of Directors resolution dated April 13, 2012.
All 750,000 Options are exercisable at an exercise price of $1.70 per Share and have a cashless exercise feature.
Fifty percent of all Options vested on the grant dates, January 2, 2012 and April 13, 2012, respectively, and the remaining fifty percent vested on July 1, 2012.
Any unexercised Options expire on December 31, 2013.