DPDW.. $0.055..
It's kind of sad to see when Insiders with all thier pay and benny's sell 619,624 shares at $0.053 to pay taxes on thier gifts..
Gene selling 220,417 to raise $11,683.10 bothers me the most especally he only owns 3,077,911 shares.. How does one get a job with this pay and bennys and only own's $163,129 and sells stock at $0.053 and tells us great things are happening at the CC's.. At his rate of pay and benny's that amount of money may be measured in weeks and not even years..
I just think he should of had enough confidence in DPDW to come up with $11,608.12.. If all he is willing to own are free shares,, what are the rest of us to think.. All in all 4 insiders sold enough shares to raise $32,840.. I just can't wait to see the next Qtrs. results..
I had a bid in earlier this AM but after reading this it's gone just like my worn out confidence in DPDW.. Sorry but's thats how I feel right now.. hank
BUTLER EUGENE L
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(Last) (First) (Middle)
8827 W. SAM HOUSTON PKWY N., STE 100
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(Street)HOUSTON TX 77040
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Deep Down, Inc. [DPDW.OB] 5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)X Director 10% Owner
X Officer (give title below) Other (specify below)
Executive Chairman & CFO
3. Date of Earliest Transaction (Month/Day/Year)
06/13/2012
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 06/13/2012 F(1) 220,417 D $ 0.053 3,077,911 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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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
(Month/Day/Year) 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
Explanation of Responses:
1. Shares withheld for payment of tax liability in accordance with the Issuer's Stock Option, Stock Warrant and Stock Award Plan incident to the vesting of restricted stock.
/s/ Eugene L. Butler