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Filing Details

Accession Number:: 0001683692-16-000014
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2016-09-30 17:18:00
Reporting Period:: 2016-09-28

Filing Date:: 2016-09-30
Accepted Time:: 2016-09-30 17:18:00
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1437557	Lilis Energy Inc.	LLEX	Crude Petroleum & Natural Gas (1311)	000000000

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1683692	Trust Living Revocable O'sullivan Sean	174 Nassau Street #3000 Princeton NJ 08542		No	No	Yes	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	Disposition	2016-09-28	23,955	$3.40	110,650	No	4	S	Direct
Common Stock	Disposition	2016-09-28	57,000	$3.30	1,628,646	No	4	S	Indirect	See Footnote 3
Common Stock	Disposition	2016-09-28	2,300	$3.36	1,626,346	No	4	S	Indirect	See Footnote 3
Common Stock	Disposition	2016-09-28	2,403	$3.50	1,623,943	No	4	S	Indirect	See Footnote 3
Common Stock	Disposition	2016-09-29	52,340	$3.50	1,571,603	No	4	S	Indirect	See Footnote 3

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	4	S	Indirect	See Footnote 3
No	4	S	Indirect	See Footnote 3
No	4	S	Indirect	See Footnote 3
No	4	S	Indirect	See Footnote 3

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Warrant	$25.00	2016-06-23	2018-06-23	200,000	200,000	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2018-06-23	200,000	200,000	Indirect

Footnotes

This represents shares of Issuer common stock held by the reporting person Sean O'Sullivan Revocable Living Trust. The natural person with ultimate voting control or investment control over the shares of common stock held by Sean O'Sullivan Revocable Living Trust is Sean O'Sullivan.
The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.30 to $3.312 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
This represents shares of Issuer common stock held by SOSV Investments LLC f/k/a SOSventures LLC. The natural person with ultimate voting control or investment control over the shares of common stock held by SOSV Investments LLC is Sean O'Sullivan, who is also the natural person with ultimate voting control or investment control over the reporting person.
The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.36 to $3.368 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
The exercise price is subject to downward adjustment if, prior to nine months after June 23, 2016, the Issuer issues warrants in a capital raising transaction that entitle the holder to acquire common stock at a price per share that is less than $25.00