4: Statement of changes in beneficial ownership of securities
Published on March 10, 2016
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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 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) |
(e.g., puts, calls, warrants, options, convertible securities)
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 | ||||||||
StockOption (Right to Buy) | $ 0.8 | 03/08/2016 | X | 1,000,000 | 12/31/2009 | 03/15/2016(4) | Common Stock | 1,000,000 | $ 0.8 | 0 | D | ||||
Stock Option (Right to Buy) | $ 1.71 | 02/14/2013(5) | 02/14/2017 | Common Stock | 800,000 | 800,000 | D |
Reporting Owners
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
VAN OORT DOUGLAS M 12701 COMMONWEALTH DRIVE SUITE 9 FORT MYERS, FL 33913 |
Chairman and CEO |
Signatures
/s/ Douglas M. VanOort | 03/10/2016 | |
**Signature of Reporting Person | Date |
Explanation of Responses:
* | 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) | Includes 125,000 shares of restricted stock that the Board of Directors approved and granted on April 15, 2014. The terms of the award call for the stock to vest on the third anniversary of the grant date as long as Mr. Van Oort is still an employee of the Company. This was disclosed in our Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission on July 29, 2014. |
(2) | Common stock was sold on March 8, 2016 and March 9, 2016 and proceeds from the sale were used as payment of the exercise price and tax liability associated with the exercise of the 1,000,000 stock options expiring on March 15, 2016. The total shares disposed of were 450,000 shares and 550,000 were retained. |
(3) | Conundrum Capital Partners, LLC is a limited liability partnership 50% owned by Mr. VanOort. Mr.VanOort is a managing partner of Conundrum Capital Partners, LLC. |
(4) | On March 19, 2009, Mr. Van Oort was granted options to purchase 1,000,000 shares. These options are being exercised as they expire on March 15, 2016. |
(5) | On February 14, 2012, Mr. VanOort was granted options to purchase 800,000 shares. These shares vest equally over each of the first four anniversaries of the grant date. |