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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 | $ 0.61 | 10/15/2014 | D | 737,217 | (1) | 08/29/2015 | Common Stock | 737,217 | $ 0 (2) | 0 | D | ||||
Stock Option | $ 0.38 | 10/15/2014 | A | 737,217 | (3) | 10/15/2021 | Common Stock | 737,217 | $ 0 (2) | 737,217 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Lane Timothy 18552 MACARTHUR BLVD SUITE 325 IRVINE, CA 92612 |
/s/ Timothy Lane | 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, 245,739 shares vested on the grant date, 163,826 shares vested on each of August 29, 2013 and 2014, respectively, and the final 163,826 shares are scheduled to vest on August 29, 2015. |
(2) | The Reporting Person agreed to cancellation of the stock option granted to him on August 29, 2012, 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 and subject to the same vesting schedule, but with a longer term and lower exercise price. |
(3) | Of the shares issuable pursuant to this stock option, 573,391 are currently vested. The remaining 163,826 shares are scheduled to vest on August 29, 2015. |