PHOTOWORKS INC /WA 4
4 · PHOTOWORKS INC /WA · Filed Sep 2, 2005
Insider Transaction Report
Form 4
LASS MICHAEL F
VP, Operations
Transactions
- Award
Employee Stock Option (right to buy)
2005-08-31$0.71/sh+141,000$100,110→ 141,000 totalExercise: $0.71Exp: 2015-08-30→ Common Stock (141,000 underlying) - Other
Employee Stock Option (right to buy)
2005-08-31$0.71/sh+25,000$17,750→ 25,000 totalExercise: $0.71Exp: 2007-11-26→ Common Stock (25,000 underlying)
Footnotes (2)
- [F1](1) 25% of the option shares vest on the first anniversary of the grant date and the balance vest quarterly over three years.
- [F2](2) On July 18, 2005 the common stock was split 5 for 1. In addition, the reporting person agreed to cancellation of an option previously granted in exchange for a new option having a lower exercise price.