Gelmon Michael J 4
4 · BANYAN CORP /OR/ · Filed May 3, 2006
Insider Transaction Report
Form 4
BANYAN CORP /OR/BANY
Gelmon Michael J
DirectorChief Executive Officer10% Owner
Transactions
- Award
Option to Buy
2006-02-15$0.02/sh+15,000,000$300,000→ 15,000,000 totalExercise: $0.02From: 2006-02-15Exp: 2011-02-15→ Common Stock, no par value (15,000,000 underlying) - Other
Common Stock, no par value
2006-02-15$0.01/sh+3,500,000$21,000→ 24,623,833 total - Exercise of In-Money
Common Stock, no par value
2006-02-15$0.01/sh+6,500,000$39,000→ 21,123,833 total
Footnotes (2)
- [F1]On February 15, 2006, the Reporting Person exercised 6,500,000 options for services valued at $39,000.
- [F2]On February 15, 2006, the Reporting Person waived his annual bonus payable with respect to the Issuer's diagnostic testing business for 2005 valued at $21,000.