4//SEC Filing
Jewett Mark A 4
Accession 0000932440-11-001248
CIK 0001120970other
Filed
Dec 22, 7:00 PM ET
Accepted
Dec 23, 4:07 PM ET
Size
7.2 KB
Accession
0000932440-11-001248
Insider Transaction Report
Form 4
Transactions
- Award
Common Stock
2011-12-21+100,000→ 100,450 total
Footnotes (4)
- [F1]On December 21, 2011, Comstock Mining Inc. (the "Company") granted 100,000 shares of restricted stock to the reporting person subject to vesting in accordance with the Restricted Stock Agreement entered into under the Comstock Mining Inc. 2011 Equity Incentive Plan.
- [F2]Includes 100,000 shares of stock, which vest as follows: (i) 20% upon the certification by the compensation committee of the board of directors of the Company of the attainment of both the validation of qualified resources (at least measured and indicated) and reserves (probable and proven) aggregating to at least 1,000,000 ounces of gold equivalent and completion of the first metal pour from the mining operations; (ii) 20% upon the certification by the Committee of the attainment of both the validation of qualified resources (at least measured and indicated) and reserves (probable and proven) aggregating to at least 1,500,000 ounces of gold equivalent and the completion of three months of consecutive mining operations at an annual production rate of 15,000 ounces of gold equivalent;
- [F3][footnote 2 continued] (iii) 20% upon the certification by the Committee of the attainment of both the validation of qualified resources (at least measured and indicated) and reserves (probable and proven) aggregating to at least 2,000,000 ounces of gold equivalent and the completion of three months of consecutive mining operations at an annual production rate of 17,500 ounces of gold equivalent; and
- [F4][footnote 3 continued] (iv) the remaining 40% upon the certification by the Committee of the attainment of both the validation of qualified resources (at least measured and indicated) and reserves (probable and proven) aggregating to at least 3,250,000 ounces of gold equivalent and the completion of three months of consecutive mining operations at an annual production rate of 20,000 ounces of gold equivalent. If a change in control of the Company occurs, all unvested restricted stock vests immediately. A portion of the shares may vest following termination of Mr. Jewett's employment by the Company if certain conditions are met. Any portion of the restricted stock that does not vest by the fifth anniversary of the date of grant will be forfeited.
Documents
Issuer
Comstock Mining Inc.
CIK 0001120970
Entity typeother
Related Parties
1- filerCIK 0001353819
Filing Metadata
- Form type
- 4
- Filed
- Dec 22, 7:00 PM ET
- Accepted
- Dec 23, 4:07 PM ET
- Size
- 7.2 KB