SEC FORM 4

SEC FORM 4 SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bosard Trey T

(Last)

(First)

(Middle)

17 SOUTH BRIAR HOLLOW LANE

SUITE 100

(Street)

HOUSTON

77027

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ADAMS RESOURCES & ENERGY, INC. [ AE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President, Phoenix Oil, Inc.

3. Date of Earliest Transaction (Month/Day/Year)
03/01/2024

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common stock	03/01/2024		M		74	A	$0	5,760	D
Common stock	03/01/2024		F		22	D	$30.03	5,738	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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted stock units	⁽¹⁾	03/01/2024		M			74	⁽¹⁾	⁽¹⁾	Common stock	74	$0	10,323	D
Restricted stock units	⁽²⁾	03/01/2024		A		500		⁽³⁾	⁽³⁾	Common stock	500	$0	10,823⁽⁴⁾	D
Performance share units	⁽⁵⁾	03/01/2024		A		500		⁽⁵⁾	⁽⁵⁾	Common stock	500	$0	500⁽⁶⁾	D

Explanation of Responses:

1. The reporting person was previously granted 224 restricted stock units of Adams Resources & Energy, Inc. (AE) vesting in three equal installments beginning March 1, 2024. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.

2. The reporting person received a grant of 500 restricted stock units of Adams Resources & Energy, Inc. (AE) on March 1, 2024. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.

3. The restricted stock units will vest (i.e., the restrictions will lapse) in three equal annual installments beginning on March 1, 2025, provided the reporting person remains in continuing active service on the vesting date (subject to accelerated vesting in some circumstances).

4. Total includes restricted stock units previously awarded that have different vesting and expiration dates, as reported.

5. The reporting person received a grant of 500 performance share units of Adams Resources & Energy, Inc. on March 1, 2024. The performance share units will vest on March 1, 2027, provided the reporting person remains in continuing active service on the vesting date (subject to accelerated vesting in certain circumstances), and subject to the attainment of certain performance criteria as specified in the award agreement.

6. 224 performance share units awarded on March 1, 2023 will not vest on the basis of the applicable performance conditions set for the in the award agreement and are no longer held by the reporting person.

Remarks:

	/s/ Trey T Bosard	03/04/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Bosard Trey T converted options into 74 shares and covered exercise/tax liability with 22 shares, increasing direct ownership by 0.91% to 5,738 units (SEC Form 4)