NATIONAL PATENT DEVELOPMENT CORP 4
4 · NATIONAL PATENT DEVELOPMENT CORP · Filed Mar 7, 2007
Insider Transaction Report
Form 4
FLEGEL S LESLIE
Director
Transactions
- Purchase
Common Stock
2007-03-02$2.40/sh+200,000$480,000→ 200,000 total
Footnotes (1)
- [F1]Pursuant to a purchase agreement between Mr. Flegel and the issuer dated March 2, 2007, these shares of common stock of the issuer are immediately convertible into shares of common stock of the issuer's majority-owned subsidiary, Five Star Products, Inc. ("Five Star") that are held by the issuer, on a one-for-six basis (each shares of the issuer's common stock may be converted into six shares of Five Star common stock). These shares will no longer be convertible into shares of Five Star's common stock if and when the issuer no longer holds any shares of Five Star's common stock.