BUTHER LOUIS 4
4 · EMERGENT GROUP INC/NY · Filed Aug 28, 2003
Insider Transaction Report
Form 4
BUTHER LOUIS
President10% Owner
Transactions
- Conversion
Promissory Notes
2003-08-29−150,000→ 229,546 totalExercise: $0.40From: 2003-08-29Exp: 2003-12-31→ Common Stock (150,000 underlying) - Conversion
Common Stock
2003-08-29$0.40/sh+151,500$60,600→ 300,889 total - Award
Rights
2003-08-05+229,546→ 229,546 totalExercise: $0.20From: 2003-08-04Exp: 2003-01-31→ Common Stock (229,546 underlying)
Footnotes (2)
- [F1]In June 2003, Mr. Buther purchased promissory notes from the Issuer in the principal amount of $60,000. The notes automatically converted on the August 29, 2003 effective date of a one-for-40 reverse stock split. All share and per share amount herein have been given retroactive effect for the reverse stock split Of the 151,500 shares, 150,000 shares represent conversion of principal and 1,500 shares represent conversion of interest.
- [F2]These rights were granted to Mr. Buther upon receipt of stockholder approval of the reverse stock split and shall become immediately exercisable through the expiration date of January 31 2004. These rights may have been prematurely reported on a Form 4 in June 2003.