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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 | ||||||||
Options to Purchase | $ 1.32 | 09/03/2014 | A(1) | 270,000 | 12/03/2014(2) | 09/03/2019 | Common stock | 270,000 | (1) | 396,250 (3) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Nicholson Bruce 23 PEGASUS DRIVE TINTON FALLS, NJ 07724 |
VP Corporate Development |
/s/ Bruce Nicholson | 09/04/2014 | |
**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) | Granted pursuant to and in accordance with the Company's stock option plan. |
(2) | Options vest over an 18-month period (25% 3 months after grant, 25% 6 months after grant, 25% 12 months after grant and the final 25% 18 months after grant). |
(3) | In addition to the options to purchase 270,000 shares as disclosed above, the Reporting Person also holds options to purchase 16,250 shares at an exercise price of $2.40 per share expiring on August 26, 2019, 80,000 shares at an exercise price of $2.43 per share, expiring on August 13, 2020, and 30,000 shares at an exercise price of $2.78 per share, expiring on September 26, 2021. |