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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 | ||||||||
Employee Stock Option (Right to Buy) | $ 1.33 | 10/11/2016 | M | 27,971 | (2) | 10/12/2016 | Common Stock | 27,971 | $ 1.33 | 0 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Holland David 6120 WINDWARD PARKWAY, SUITE 290 ALPHARETTA, GA 30005 |
SVP of Sales and Marketing |
/s/ David R. Holland | 10/12/2016 | |
**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) | Mr. Holland irrevocably agreed to exercise these options through the "net exercise" method on September 2, 2016. Mr. Holland received 3,170 shares of common stock on a net exercise to purchase 27,971 shares of common stock. Mr. Holland forfeited 24,801 shares of common stock underlying the option in payment of the exercise price, using the closing stock price on October 11, 2016 of $1.50. |
(2) | Became exercisable with respect to one-quarter (1/4) of the shares of stock which are subject to this option on November 22, 2007 (the "Initial Vesting Date") and with respect to the remainder of the shares in equal increments quarterly over three (3) years beginning on the date three (3) months from the Initial Vesting Date. |