Pete O'Heeron, Chairman of the Board, Secretary, and Treasurer of Liberty Star Uranium & Metals Corp., filed a Form 4 on November 6, 2026, disclosing the grant of 5,000,000 non-qualified stock options on October 28, 2026.

Key Highlights

  • Grant date: October 28, 2026, as stated in the filing.
  • Options granted: 5,000,000 non-qualified stock option units (right to buy), at an exercise price of $0.02 per share.
  • Expiration: Options expire ten years after grant, on October 28, 2036, according to the filing.
  • Vesting - time-based portion: 1,500,000 options vest in thirds: one third at issuance, one third at the first-year anniversary, and one third at the second-year anniversary.
  • Vesting - milestone portion: 3,500,000 options vest in milestone tranches tied to specific events described in the filing.
  • Beneficial ownership following the transaction: 5,000,000 derivative securities (options) held directly.
  • Board approval: The exercise price of $0.02 per share was "approved by our board of directors," according to the filing.

O'Heeron Option Grant Details: Vesting Structure and Milestones at Liberty Star Uranium & Metals

According to the Form 4 filed with the U.S. Securities and Exchange Commission on November 6, 2026, Pete O'Heeron, who serves as Chairman of the Board (COB), Secretary, and Treasurer of Liberty Star Uranium & Metals Corp. (OTC:LBSR), received a grant of 5,000,000 non-qualified stock options on October 28, 2026. The filing identifies O'Heeron as a Director, 10% Owner, and Officer of the issuer. The options carry an exercise price of $0.02 per share, set as "approved by our board of directors," and are exercisable within ten years, expiring October 28, 2036.

The filing describes two distinct vesting schedules for the 5,000,000 options. The first covers 1,500,000 options that vest in equal thirds: one third at issuance, one third at the first-year anniversary of the grant, and one third at the second-year anniversary. The remaining 3,500,000 options vest in what the filing calls "milestone tranches." Those milestones include: (a) a definitive earn-in, joint venture, or sale agreement on Hay Mountain or the Red Rock Canyon claims; (b) non-dilutive or equity financing of at least $1.5M closed at or above market; (c) a 2026 field-work-based resource target publication or drill program funded; and (d) uplisting or a sustained $0.05 share price.

Following the reported transaction, the filing states that O'Heeron beneficially owns 5,000,000 derivative securities (options) on a direct basis. The filing does not report any non-derivative securities acquired, disposed of, or beneficially owned in Table I.

What Was Disclosed

Pete O'Heeron, COB, Secretary, and Treasurer of Liberty Star Uranium & Metals Corp., disclosed receipt of 5,000,000 non-qualified stock options at $0.02 per share, granted October 28, 2026, with time-based and milestone-based vesting terms, expiring October 28, 2036.