SOLOMON TECHNOLOGIES INC 4
4 · SOLOMON TECHNOLOGIES INC · Filed Feb 7, 2007
Insider Transaction Report
Form 4
Brandt Gary G
Other
Transactions
- Award
Options
2007-02-05$2.80/sh+500,000$1,400,000→ 500,000 totalExercise: $2.80Exp: 2017-02-05→ Common Stock, par value $0.001 per share (500,000 underlying) - Award
Performance Options
2007-02-05$2.80/sh+250,000$700,000→ 250,000 totalExercise: $2.80Exp: 2017-02-05→ Common Stock, par value $0.001 per share (250,000 underlying) - Award
Common Stock, par value $0.001 per share
2007-02-05+110,000→ 110,000 total
Footnotes (3)
- [F1]These shares are issued as prepaid salary and sign on bonus vesting over three (3) years in amounts equal to 50%, 30% and 20% of the total shares on the first, second and third anniversaries, respectively, of the Reporting Person's employment with the Issuer.
- [F2]This award vests as to 33.33% of the Option Shares on each of the first anniversary of the Date of Grant and the second anniversary of the Date of Grant and as to 33.34% of the Option Shares on the third anniversary of the Date of Grant.
- [F3]This award vests 100% upon completion of the audit of the Issuer's financial statements for the year ended on December 31, 2007 if the Issuer achieves certain performance goals.