1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Restricted Stock Units
|
Â
(1)
|
Â
(5)
|
Common Stock
|
218,752
|
$
0
|
D
|
Â
|
Non-Qualified Stock Options
|
Â
(2)
|
05/16/2024 |
Common Stock
|
150,000
|
$
2.21
|
D
|
Â
|
Non-Qualified Stock Options
|
Â
(3)
|
05/16/2024 |
Common Stock
|
300,000
|
$
2.21
|
D
|
Â
|
Non-Qualified Stock Options
|
Â
(4)
|
05/16/2024 |
Common Stock
|
300,000
|
$
2.21
|
D
|
Â
|
* |
If the form is filed by more than one reporting person, see Instruction 5(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) |
1/4th of the shares subject to the grant shall vest on each anniversary of the grant date over four years, through May 16, 2018. |
(2) |
1/4th of the shares subject to the grant shall vest on the first anniversary of the grant date, and 1/48th of the shares subject to the grant shall vest on each monthly anniversary thereafter over the next three years through May 16, 2018. The grant shall only be exercisable, to the extent vested, following the date as of which the fair market value of the Company's common stock has first equaled or exceeded $4.00 for 20 consecutive trading days. |
(3) |
1/4th of the shares subject to the grant shall vest on the first anniversary of the grant date, and 1/48th of the shares subject to the grant shall vest on each monthly anniversary thereafter over the next three years through May 16, 2018. The grant shall only be exercisable, to the extent vested, following the date as of which the fair market value of the Company's common stock has first equaled or exceeded $6.25 for 20 consecutive trading days. |
(4) |
1/4th of the shares subject to the grant shall vest on the first anniversary of the grant date, and 1/48th of the shares subject to the grant shall vest on each monthly anniversary thereafter over the next three years through May 16, 2018. The grant shall only be exercisable, to the extent vested, following the date as of which the fair market value of the Company's common stock has first equaled or exceeded $9.75 for 20 consecutive trading days. |
(5) |
Not applicable |