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<SEC-DOCUMENT>0001140361-10-023485.txt : 20100528
<SEC-HEADER>0001140361-10-023485.hdr.sgml : 20100528
<ACCEPTANCE-DATETIME>20100528142900
ACCESSION NUMBER:		0001140361-10-023485
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090521
FILED AS OF DATE:		20100528
DATE AS OF CHANGE:		20100528

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			EINHORN DAVID
		CENTRAL INDEX KEY:			0001240451

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33530
		FILM NUMBER:		10866112

	MAIL ADDRESS:	
		STREET 1:		140 EAST 45TH STREET
		STREET 2:		24TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BioFuel Energy Corp.
		CENTRAL INDEX KEY:			0001373670
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				205952523
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1801 BROADWAY, SUITE 1060
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202
		BUSINESS PHONE:		303-592-8110

	MAIL ADDRESS:	
		STREET 1:		1801 BROADWAY, SUITE 1060
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-05-21</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001373670</issuerCik>
        <issuerName>BioFuel Energy Corp.</issuerName>
        <issuerTradingSymbol>BIOF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001240451</rptOwnerCik>
            <rptOwnerName>EINHORN DAVID</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>140 EAST 45TH STREET</rptOwnerStreet1>
            <rptOwnerStreet2>FLOOR 24</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>102410</value>
                    <footnoteId id="F1"/>
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            <ownershipNature>
                <directOrIndirectOwnership>
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                <natureOfOwnership>
                    <value>See Footnote</value>
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        <nonDerivativeHolding>
            <securityTitle>
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            <securityTitle>
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        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
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        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
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                    <value>See Footnote</value>
                    <footnoteId id="F9"/>
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        </nonDerivativeHolding>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
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            <transactionDate>
                <value>2009-05-21</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F10"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>12500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2010-05-20</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F10"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>886539</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3192619</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
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            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
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                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>232238</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F8"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>LLC Membership Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.00</value>
                <footnoteId id="F4"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2007-06-13</value>
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            <expirationDate>
                <footnoteId id="F4"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.01 per share</value>
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                <underlyingSecurityShares>
                    <value>67029</value>
                </underlyingSecurityShares>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>886539</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
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                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>LLC Membership Units</value>
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            <conversionOrExercisePrice>
                <value>0.00</value>
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            <exerciseDate>
                <value>2007-06-13</value>
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            <expirationDate>
                <footnoteId id="F5"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.01 per share</value>
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                <underlyingSecurityShares>
                    <value>165209</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3192619</value>
                    <footnoteId id="F1"/>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
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                <natureOfOwnership>
                    <value>See Footnote</value>
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        <derivativeHolding>
            <securityTitle>
                <value>LLC Membership Units</value>
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            <expirationDate>
                <footnoteId id="F8"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.01 per share</value>
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                <underlyingSecurityShares>
                    <value>232238</value>
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                <sharesOwnedFollowingTransaction>
                    <value>232238</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
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                    <value>See Footnote</value>
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            </ownershipNature>
        </derivativeHolding>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
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            <conversionOrExercisePrice>
                <value>0.73</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2009-05-21</value>
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                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F11"/>
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            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
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                <transactionPricePerShare>
                    <value>0</value>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <value>2010-05-21</value>
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            <expirationDate>
                <value>2014-05-21</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.01 per share</value>
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                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5000</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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            <securityTitle>
                <value>Stock Option (right to buy)</value>
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            <deemedExecutionDate></deemedExecutionDate>
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                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionShares>
                    <value>5000</value>
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                    <value>0</value>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <value>2011-05-20</value>
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                <value>2015-05-20</value>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.01 per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>10.5</value>
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            <exerciseDate>
                <value>2008-06-19</value>
            </exerciseDate>
            <expirationDate>
                <value>2012-06-19</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.01 per share</value>
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                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5000</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
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            <conversionOrExercisePrice>
                <value>3.55</value>
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            <exerciseDate>
                <value>2009-05-15</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-05-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.01 per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">David Einhorn is a Director of BioFuel Energy Corp. (the &quot;Issuer&quot;). Mr. Einhorn is also the senior managing member of Greenlight Capital, L.L.C. (&quot;Greenlight LLC&quot;), DME Advisors GP, LLC (&quot;DME GP&quot;) and DME Management GP, LLC (&quot;DME Management GP&quot;), and the president of Greenlight Capital, Inc. (&quot;Greenlight Inc.&quot;). DME GP is the general partner of DME Advisors, LP (&quot;DME&quot;) and DME Capital Management, LP (&quot;DME CM&quot;).</footnote>
        <footnote id="F2">One or more of the foregoing entities control the disposition and voting of shares of common stock, par value $0.01 per share (the &quot;Common Stock&quot;), of the Issuer, owned by one or more of the following entities: Greenlight Capital, L.P. (&quot;Greenlight Fund&quot;), Greenlight Capital Qualified, L.P. (&quot;Greenlight Qualified&quot;), Greenlight Capital Offshore, Ltd. (&quot;Greenlight Offshore&quot;), Greenlight Capital (Gold), LP (&quot;Greenlight Gold&quot;), Greenlight Capital Offshore Master (Gold), Ltd. (&quot;Greenlight Gold Offshore&quot;) and an account managed by DME (the &quot;Managed Account,&quot; and, together with Greenlight Fund, Greenlight Qualified, Greenlight Offshore, Greenlight Gold, Greenlight Gold Offshore, Greenlight LLC, Greenlight Inc., DME GP, DME, DME Management GP and DME CM, the &quot;Greenlight Parties&quot;), in the respective capacities and quantities further described in the footnotes below.</footnote>
        <footnote id="F3">Pursuant to Rule 16a-1 under the Securities Exchange Act of 1934, as amended (the &quot;Act&quot;), Mr. Einhorn disclaims beneficial ownership of the Common Stock except to the extent of his pecuniary interests therein. The filing of this Form 4 shall not be construed as an admission that David Einhorn or any of the Greenlight Parties is or was for the purposes of Section 16(a) of the Act, or otherwise, the beneficial owner of any of the shares of Common Stock owned by Greenlight Fund, Greenlight Qualified, Greenlight Offshore, Greenlight Gold, Greenlight Gold Offshore, or the Managed Account.</footnote>
        <footnote id="F4">Greenlight LLC controls the voting and disposition of 102,410 shares of Common Stock through the account of Greenlight Fund, of which Greenlight LLC is the general partner. In addition, Greenlight Fund holds 886,539 shares of class B common stock, par value $0.01 per share (&quot;Class B Stock&quot;) of the Issuer and 886,539 LLC membership units (&quot;Units&quot;) of BioFuel Energy, LLC (the &quot;LLC&quot;), which Units may be exchanged at any time for shares of Common Stock on a one-for-one basis. If any Units are exchanged, the same number of shares of Class B Stock will be transferred to the LLC and retired. As the senior managing member of Greenlight LLC, Mr. Einhorn may be deemed to beneficially own the securities held by Greenlight Fund.</footnote>
        <footnote id="F5">Greenlight LLC controls the voting and disposition of 499,667 shares of Common Stock through the account of Greenlight Qualified, of which Greenlight LLC is the general partner. In addition, Greenlight Qualified holds 3,192,619 shares of Class B Stock and 3,192,619 Units, which Units may be exchanged at any time for shares of Common Stock on a one-for-one basis. If any Units are exchanged, the same number of shares of Class B Stock will be transferred to the LLC and retired. As the senior managing member of Greenlight LLC, Mr. Einhorn may be deemed to beneficially own the securities held by Greenlight Qualified.</footnote>
        <footnote id="F6">Greenlight Inc. controls the voting and disposition of 5,346,065 shares of Common Stock through the account of Greenlight Offshore in Greenlight Capital Offshore Partners. Greenlight Inc. is the investment manager of Greenlight Offshore and Greenlight Capital Offshore Partners. As the president and director of Greenlight Inc., Mr. Einhorn may be deemed to beneficially own the shares held by Greenlight Capital Offshore Partners.</footnote>
        <footnote id="F7">DME controls the voting and disposition of 1,447,443 shares of Common Stock through the Managed Account, for which DME serves as the investment manager. As the senior managing member of DME GP, which is the general partner of DME, Mr. Einhorn may be deemed to beneficially own the shares held by the Managed Account.</footnote>
        <footnote id="F8">DME Management GP controls the voting and disposition of 33,599 shares of Common Stock through the account of Greenlight Gold, of which DME Management GP is the general partner. In addition, Greenlight Gold holds 232,238 shares of Class B Stock and 232,238 Units, which Units may be exchanged at any time for shares of Common Stock on a one-for-one basis. If any Units are exchanged, the same number of shares of Class B Stock will be transferred to the LLC and retired. As the senior managing member of DME Management GP, Mr. Einhorn may be deemed to beneficially own the securities held by Greenlight Gold.</footnote>
        <footnote id="F9">DME CM controls the voting and disposition of 112,920 shares of Common Stock through the account of Greenlight Gold Offshore, of which DME CM is the investment manager. As the senior managing member of DME GP, which is the general partner of DME CM, Mr. Einhorn may be deemed to beneficially own the shares held by Greenlight Gold Offshore.</footnote>
        <footnote id="F10">Grant of shares of restricted stock pursuant to the Issuer's 2007 Equity Incentive Compensation Plan.  Shares vest one year after date of grant.</footnote>
        <footnote id="F11">Grant of stock options pursuant to the Issuer's 2007 Equity Incentive Compensation Plan.</footnote>
    </footnotes>

    <remarks>Exhibit List

Exhibit 24:  Power of Attorney executed by David Einhorn, authorizing Harry Brandler and Daniel Roitman to sign and file this report, which was filed as Exhibit 99.2 to the Schedule 13G relating to NCR Corporation filed with the Securities and Exchange Commission on May 24, 2010, is incorporated herein by reference.</remarks>

    <ownerSignature>
        <signatureName>/s/ Daniel Roitman, attorney-in-fact for David Einhorn</signatureName>
        <signatureDate>2010-05-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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