SBMT director reports initial share and option holdings
SILVER BOW MINING CORP. director Steven Douglas Durbin Jr reported his initial ownership of the company’s securities.
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Form Type
3
Rhea-AI Filing Summary
SILVER BOW MINING CORP. director Steven Douglas Durbin Jr reported his initial ownership of the company’s securities. He holds 388,611 Common Shares directly, including 33,020 Restricted Stock Units that vest upon specific events such as a change in control or his departure from the board. He is also associated with 845,353 Common Shares held indirectly through Quail Bend Mineral Partners LLC, where he exercises voting and dispositive power subject to his pecuniary interest. In addition, he holds stock options for 175,000 Common Shares at an exercise price of $3.10 per share, expiring on March 3, 2030, which vested immediately on the grant date.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Durbin Steven Douglas Jr
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Stock Options (Right to Buy) — 175,000 contracts (Direct);
Common Shares — 388,611 shares (Direct);
Common Shares — 845,353 shares (Indirect, By Quail Bend Mineral Partners LLC)
Footnotes (3)
- F1. Includes 33,020 Restricted Stock Units ("RSUs"). 100% of the RSUs will vest and be convertible into Common Shares upon the earliest of (i) a change in control of the Issuer; (ii) a sale of the majority of Issuer's assets; or (iii) the departure of the Reporting Person from the Board of Directors of the Issuer.
- F2. Mr. Durbin as the manager of Quail Bend Mineral Partners LLC exercises voting and dispositive power of the common shares, but disclaims beneficial ownership except to the extent of his pecuniary interest therein.
- F3. Stock options vested immediately upon date of grant.
Key Figures
Direct Common Shares: 388,611 shares
Indirect Common Shares: 845,353 shares
Restricted Stock Units: 33,020 units
+3 more
6 metrics
Direct Common Shares
388,611 shares
Total direct Common Shares held following report
Indirect Common Shares
845,353 shares
Held through Quail Bend Mineral Partners LLC
Restricted Stock Units
33,020 units
RSUs that vest upon specified corporate or board events
Stock Options Underlying Shares
175,000 shares
Common Shares underlying stock options held directly
Option Exercise Price
$3.10 per share
Exercise price of stock options expiring March 3, 2030
Option Expiration Date
March 3, 2030
Expiration for stock options on 175,000 Common Shares
Key Terms
Restricted Stock Units ("RSUs"), Stock Options (Right to Buy), change in control, pecuniary interest, +1 more
5 terms
Restricted Stock Units ("RSUs") financial
"Includes 33,020 Restricted Stock Units ("RSUs"). 100% of the RSUs will vest and be convertible into Common Shares..."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
Stock Options (Right to Buy) financial
"Stock Options (Right to Buy) with 175000.0000 underlying Common Shares and a 3.1000 exercise price..."
change in control financial
"100% of the RSUs will vest and be convertible into Common Shares upon the earliest of (i) a change in control of the Issuer..."
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
pecuniary interest financial
"disclaims beneficial ownership except to the extent of his pecuniary interest therein."
dispositive power financial
"exercises voting and dispositive power of the common shares, but disclaims beneficial ownership..."
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the Form 3 filing for SILVER BOW MINING CORP. (SBMT) show about Steven Durbin’s holdings?
The Form 3 shows that director Steven Douglas Durbin Jr holds 388,611 Common Shares directly and 845,353 Common Shares indirectly through Quail Bend Mineral Partners LLC, plus stock options for 175,000 Common Shares at a $3.10 exercise price, expiring March 3, 2030.
What Restricted Stock Units (RSUs) are reported for Steven Durbin in SBMT’s Form 3?
The filing states that his direct holdings include 33,020 Restricted Stock Units. All RSUs will vest and convert into Common Shares upon the earliest of a change in control of SILVER BOW MINING CORP., a sale of most assets, or his departure from the board.
What stock options does Steven Durbin hold in SILVER BOW MINING CORP. (SBMT)?
He holds stock options covering 175,000 Common Shares with a $3.10 exercise price per share, expiring March 3, 2030. The filing notes these options vested immediately on the grant date, giving him the right to buy shares at that fixed price until expiration.
Does the SBMT Form 3 indicate any recent buying or selling by Steven Durbin?
The Form 3 functions as an initial ownership report and lists holdings rather than new transactions. The transaction summary shows no buy or sell entries, only three holding records with unknown transaction codes, indicating this filing primarily establishes his existing positions in company securities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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