BANYAN CORP /OR/ 5
5 · BANYAN CORP /OR/ · Filed Jan 18, 2008
Insider Transaction Report
Form 5
BANYAN CORP /OR/BANY
Gelmon Michael J
DirectorChief Executive Officer10% Owner
Transactions
- Award
Option to Buy
2006-02-15+150,000→ 150,000 totalExercise: $0.00From: 2006-02-15Exp: 2011-02-15→ Common Stock, no par value (150,000 underlying)
Holdings
- 8,646,233
Common Stock, no par value
Footnotes (4)
- [F1]Share amounts reflect a one for one hundred reverse stock split effective September 5, 2007.
- [F2]All shares are pledged as security for a loan.
- [F3]Includes 150,000 immediately exercisable options. All options listed were exercisable as of December 31, 2007.
- [F4]On June 28, 2007, the reporting person was issued 8,250,000 shares of common stock in consideration for services rendered valued at $247,500 ($.0003 per share), including the waiver of his annual bonus payable with respect to the issuer's diagnostic testing business segment for 2006, and personally signing several guaranty and pledge agreements since 2004 including a pledge of all of the shares of the issuer owned of record by the reporting person as security for a loan. On August 21, 2007, the reporting person returned the 8,250,000 shares to the issuer for cancellation to reduce the number of shares issued and outstanding and to enable to the issuer to issue shares to certain investors upon conversion of their convertible notes. The issuer reissued the 8,250,000 shares to the reporting person on November 1, 2007.