SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
January
6, 2011
Date
of Report (Date of earliest event reported)
Zion Oil
& Gas, Inc.
(Exact
name of registrant as specified in its charter)
Delaware
(State
or other jurisdiction of incorporation)
|
333-131875
(Commission
File Number)
|
20-0065053
(IRS
Employer Identification No.)
|
6510
Abrams Road, Suite 300, Dallas, TX 75231
(Address
of Principal Executive Offices)
Registrant's
telephone number, including area code: 214-221-4610
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
|
o
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
|
o
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
|
|
o
|
Pre-commencement
communications pursuant to 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
|
Item
5.02(e). Compensatory Arrangements of Certain Officers.
On January 6, 2011, Zion Oil & Gas,
Inc. (the “Company”) awarded to its principal executive officer and principal
financial officer options to purchase an aggregate of 80,000 shares of the
Company’s common stock, par value $0.01 per share, as follows:
|
Name
& Position
|
Number
of Shares Under the Option Grant
|
|
Richard
Rinberg, Chief Executive Officer
|
60,000
|
|
Kent
Siegel, Chief Financial Officer
|
20,000
|
All stock options were granted in
accordance with the terms and conditions of the Company’s 2005 Stock Option Plan
(the “Plan”). The stock option agreements evidencing the grants under the Plan
provide for, among other things, (i) a grant date of January 6, 2011, (ii) an
exercise period commencing on January 1, 2012 and continuing through December
31, 2014 and (iii) an exercise price per share of $2.50.
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereto
duly authorized.
Date:
January 12, 2011
Zion Oil
and Gas, Inc.
By: /s/ Richard R.
Rinberg
Richard
R. Rinberg
Chief
Executive Officer