KELLY MICHAEL P 4
4 · FALCONSTOR SOFTWARE INC · Filed Jan 21, 2020
Insider Transaction Report
Form 4
KELLY MICHAEL P
Director
Transactions
- Award
Common Stock
2020-01-16+44,158→ 51,797 total
Footnotes (2)
- [F1]The restricted shares vest as follows: 2.5% of the shares vested immediately upon grant on January 16, 2020; 2.5% of the shares shall vest on May 31, 2020; 2.5% of the shares shall vest on May 31, 2021; 2.5% of the shares will vest on May 31, 2022; 45% of the shares shall vest upon preferred investors receiving cash proceeds in return on their invested capital in the Issuer; and 45% of the shares shall vest upon a change of control of the Issuer.
- [F2]These restricted shares replace the 4,415,838 shares that were forfeited by Mr. Kelly in 2019.