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Filing Details

Accession Number:: 0001144204-12-031111
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-05-21 13:00:00
Reporting Period:: 2012-05-21

Filing Date:: 2012-05-21
Accepted Time:: 2012-05-21 18:17:54
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1084226	Searchlight Minerals Corp.	SRCH	Metal Mining (1000)	980232244

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1246393	B Martin Oring	7582 Hawks Landing Drive West Palm Beach FL 33412	Ceo And President	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2012-05-21	2,500	$0.95	2,500	No	4	P	Indirect	See Footnote
Common Stock	Acquisiton	2012-05-21	10,000	$0.95	12,500	No	4	P	Indirect	See Footnote
Common Stock	Acquisiton	2012-05-21	37,500	$0.96	50,000	No	4	P	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See Footnote
No	4	P	Indirect	See Footnote
No	4	P	Indirect	See Footnote

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	255,000	Direct
Common Stock	305,000	Indirect	The Martin Oring Financial Trust Dated December 20, 2006

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	OPTIONS	$1.22			600,000	600,000	Indirect
Common Stock	OPTIONS	$0.98	2010-09-30	2015-09-30	18,462	18,462	Indirect
Common Stock	OPTIONS	$0.91			300,000	300,000	Indirect
Common Stock	OPTIONS	$0.70	2010-06-30	2015-06-30	25,714	25,714	Indirect
Common Stock	OPTIONS	$1.20	2010-03-31	2015-03-31	15,000	15,000	Indirect
Common Stock	OPTIONS	$1.60	2009-12-31	2014-12-31	11,250	11,250	Indirect
Common Stock	OPTIONS	$1.82	2009-09-30	2014-09-30	9,890	9,890	Indirect
Common Stock	OPTIONS	$2.44	2009-06-30	2014-06-30	7,377	7,377	Indirect
Common Stock	OPTIONS	$2.74	2009-03-31	2014-03-31	6,569	6,569	Indirect
Common Stock	OPTIONS	$2.45	2008-12-31	2013-12-31	7,347	7,347	Indirect
Common Stock	OPTIONS	$1.45			200,000	200,000	Indirect
Common Stock	WARRANTS	$1.85	2007-02-23	2012-11-12	62,500	62,500	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	600,000	600,000	Indirect
2015-09-30	18,462	18,462	Indirect
	300,000	300,000	Indirect
2015-06-30	25,714	25,714	Indirect
2015-03-31	15,000	15,000	Indirect
2014-12-31	11,250	11,250	Indirect
2014-09-30	9,890	9,890	Indirect
2014-06-30	7,377	7,377	Indirect
2014-03-31	6,569	6,569	Indirect
2013-12-31	7,347	7,347	Indirect
	200,000	200,000	Indirect
2012-11-12	62,500	62,500	Direct

Footnotes

The shares of common stock are held by Mr. Oring's wife, Mrs. Olivia Oring.
130,000 of the 255,000 shares of common stock are jointly held with Mr. Oring's wife.
The 305,000 shares of common stock of Searchlight Minerals Corp. are held by the Martin Oring Financial Trust Dated December 20, 2006 for the benefit of his children and grandchildren. Mrs. Olivia Oring is one of the trustees of the Martin Oring Financial Trust. Mrs. Olivia Oring is Mr. Oring's wife.
On September 21, 2011, Mr. Oring received options to purchase up to 600,000 shares of common stock for his service as an officer of Searchlight Minerals Corp. 200,000 options vested immediately. The remaining 400,000 options vest upon certain events and milestones. The options each expire on the five year anniversary of the date that they vest.
Mr. Oring is a managing member of Wealth Preservation, LLC. Mr. Oring and Mrs. Olivia Oring are the sole members of the LLC.
In connection with Mr. Oring's employment as Chief Executive Officer and President, effective as of October 1, 2010, Mr. Oring received options to purchase 300,000 shares of Searchlight Minerals Corp.'s common stock. 200,000 options have vested. The remaining options vest upon certain events and milestones as set forth in the Mr. Oring's Stock Option Agreement dated October 1, 2010. The options each expire on the five year anniversary of the date that they vest.
The options vest pro rata over four years, from October 6, 2009 through October 6, 2012. The options each expire on the five year anniversary of the date that they vest.