MILLER WILLIAM D 4
4 · FALCONSTOR SOFTWARE INC · Filed Oct 13, 2020
Insider Transaction Report
Form 4
MILLER WILLIAM D
Director
Transactions
- Award
Common Stock
2020-09-30+73,600→ 117,758 total
Holdings
- 26(indirect: By LLC)
Common Stock
Footnotes (3)
- [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.
- [F3]Securities owned directly by PV Strategies LLC, a hedge fund managed by Miller Investment Management LLC, a registered investment adviser of which Mr. Miller is a principal. Mr. Miller, as a principal of Miller Investment Management LLC, may be deemed the beneficial owner of the securities owned by PV Strategies LLC. Mr. Miller disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his pecuniary interest therein, and this report shall not be deemed to be an admission that Mr. Miller is the beneficial owner of such shares of Common Stock for purposes of Section 16 or for any other purpose.