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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
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) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
COMMON STOCK OPTION (RIGHT TO BUY) | $ 0.73 | 04/15/2015 | A | 38,356 | 07/15/2015(3) | 04/14/2025 | COMMON STOCK | 38,356 | $ 0.73 | 38,356 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Tirpak Bradley M 110 GREENE ST., STE 1101 NEW YORK, NY 10012 |
X |
/s/ Bradley Tirpak | 04/16/2015 | |
**Signature of Reporting Person | Date |
* | 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). |
(1) | Acquired as Director fees for services rendered from March 27, 2015 through June 30, 2015. Mr. Tirpak elected to receive 65% of his fees in stock and 35% in cash. |
(2) | The Company's Board members are granted 50,000 shares annually. Since Mr. Tirpak was appointed to the Board on March 27, 2015, his prorated grant equates to 38,356 shares. 50% of shares will vest one year after the Date of Grant and 50% will vest 2 years after the Date of Grant. |
(3) | The Company's Board members are granted 50,000 options annually. Since Mr. Tirpak started providing services on March 27, 2015, the options have been prorated to equate to 38,356 options. The options will vest on a quarterly basis starting July 15, 2015, October 15, 2015, January 15, 2016 and April 15, 2016. |