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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 | ||||||||
Stock Option | $ 1.02 | 10/15/2014 | D | 184,304 | (1) | 09/01/2015 | Common Stock | 184,304 | $ 0 (2) | 0 | D | ||||
Stock Option | $ 1.1 | 10/15/2014 | D | 245,739 | (3) | 07/01/2016 | Common Stock | 245,739 | $ 0 (2) | 0 | D | ||||
Stock Option | $ 0.38 | 10/15/2014 | A | 430,043 | (4) | 10/15/2021 | Common Stock | 430,043 | $ 0 (2) | 430,043 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Sherman Kevin Charles 18552 MACARTHUR BLVD SUITE 325 IRVINE, CA 92612 |
CHIEF MARKETING OFFICER |
/s/ Kevin Sherman | 10/16/2014 | |
**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) | Of the shares issuable pursuant to this stock option, 61,435 shares vested on each of September 1, 2013 and 2014, respectively, and the final 61,434 shares are scheduled to vest on September 1, 2015. |
(2) | The Reporting Person agreed to cancellation of the stock options granted to him on September 1, 2012 and July 1, 2013, in exchange for a new option issued on October 15, 2014 pursuant to the Issuer's 2013 Stock Incentive Plan, which option is exercisable for the same number of shares as the cancelled options and subject to the same vesting schedule as the option granted on September 1, 2102, but with a longer term and lower exercise price. |
(3) | Of the shares issuable pursuant to this stock option, 81,913 shares vested on each of July 1, 2014, and the remaining shares are scheduled to vest in equal installments on July 1, 2015 and July 1, 2016, respectivley. |
(4) | Of the shares issuable pursuant to this stock option, 286,696 are currently vested. The remaining 143,347 shares are scheduled to vest on September 1, 2015. |