Sec Form 4 Filing - Rhoades Alan @ DENBURY INC - 2020-09-18

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Rhoades Alan
2. Issuer Name and Ticker or Trading Symbol
DENBURY INC [ DEN]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
VP & Chief Accounting Officer
(Last) (First) (Middle)
5320 LEGACY DRIVE
3. Date of Earliest Transaction (MM/DD/YY)
09/18/2020
(Street)
PLANO, TX75024
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/18/2020 D 366,721 ( 1 ) ( 2 ) D $ 0 0 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Series B Warrants (Right to Buy) $ 35.41 09/18/2020 A( 1 )( 3 ) 952 ( 3 ) 09/18/2023 Common Stock 952 ( 1 ) ( 3 ) 952 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Rhoades Alan
5320 LEGACY DRIVE
PLANO, TX75024
VP & Chief Accounting Officer
Signatures
/s/ Robbie Hudson, attorney-in-fact for Mr. Rhoades 09/22/2020
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On July 30, 2020, Denbury Inc. (formerly known as "Denbury Resources Inc.") (the "Issuer") and certain of its subsidiaries (together with the Issuer, the "Company") commenced voluntary cases under chapter 11 of the United States Bankruptcy Code in the United State Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"). On September 2, 2020, the Bankruptcy Court entered an order confirming the Joint Chapter 11 Plan of Reorganization of Denbury Resources Inc. and its Debtor Affiliates (as amended, modified or supplemented from time to time, the "Plan"). On September 18, 2020 (the "Effective Date"), the Plan became effective in accordance with its terms and the Company emerged from chapter 11.
( 2 )On the Effective Date, all outstanding shares of the Issuer's common stock ("Existing Equity Interests") were cancelled and extinguished in accordance with the Plan approved by the Bankruptcy Court.
( 3 )On the Effective Date, the Reporting Person also received series B warrants (the "Series B Warrants") to purchase shares of outstanding common stock, par value $0.001 per share, of the Issuer, as reorganized pursuant to and under the Plan (the "New Common Stock") in exchange for Existing Equity Interests held by the Reporting Person on the Effective Date at an effective exchange ratio of 0.00259485 of a Series B Warrant for each share of Exiting Equity Interest. The Series B Warrants are exercisable for one share of New Common Stock from the date of issuance until 5:00 p.m., New York time, on the expiration date. The receipt of Series B Warrants was involuntary, without additional consideration and in accordance with the Plan approved by the Bankruptcy Court.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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