KELLY MICHAEL P 4
4 · FALCONSTOR SOFTWARE INC · Filed Oct 13, 2020
Insider Transaction Report
Form 4
KELLY MICHAEL P
Director
Transactions
- Award
Common Stock
2020-09-30+73,600→ 125,450 total
Footnotes (2)
- [F1]The restricted shares vest as follows: 2.5% of the shares shall vest on the first anniversary of the grant date of September 30, 2020 (the "Grant Date"); 2.5% of the shares shall vest on the second anniversary of the Grant Date; 2.5% of the shares shall vest on the third anniversary of the Grant Date; 2.5% of the shares will vest on the fourth anniversary of the Grant Date; 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]Amount adjusted to reflect 100-for-1 reverse stock split effected by the Issuer in August 2019 as well as certain other adjustments.