HOWARD ROBERT 4
4 · ICAD INC · Filed Jun 16, 2006
Insider Transaction Report
Form 4
ICAD INCicad
HOWARD ROBERT
10% Owner
Transactions
- Award
Convertible Revolving Credit Promissory Note
2006-06-13$2000000.00/sh+2,000,000$4,000,000,000,000→ 2,000,000 totalExercise: $1.45From: 2006-06-13→ Common Stock (1,379,310 underlying)
Footnotes (3)
- [F1]The exercise price of the Convertible Revolving Credit Promissory Note (the "Note") is the lesser of (i) the closing sale price of the underlying common stock on the date the funds under the Note were advanced to the issuer ($1.45 as noted above) or (ii) the closing sale price of the common stock on the business day immediately preceding the conversion date of the Note.
- [F2]The Note does not have an expiration date.
- [F3]The number of shares reported as issuable upoon exercise of the Note is based upon the $1.45 per share conversion price. The number o shares is subject to increase pursuant to the terms of the Note as discussed in footnote (1) above.