MEDIS TECHNOLOGIES LTD 4
4 · MEDIS TECHNOLOGIES LTD · Filed Nov 17, 2003
Insider Transaction Report
Form 4
LIFTON ROBERT K
DirectorChairman, CEO and Secretary10% Owner
Transactions
- Exercise of In-Money
Common Stock, $0.01 par value
2003-11-13$4.43/sh+42,400$187,832→ 758,457 total(indirect: By Stanoff Corporation) - Award
New Warrants (right to buy)
2003-11-13+42,400→ 0 total(indirect: By Stanoff Corporation)Exercise: $4.43From: 2003-11-13Exp: 2003-11-13→ Common Stock and one-year warrants (42,400 underlying) - Exercise of In-Money
Common Stock, $0.01 par value
2003-11-13$4.43/sh+123,794$548,407→ 2,297,716 total - Award
One-Year Warrants (right to buy)
2003-11-13+61,897→ 61,897 totalExercise: $9.60From: 2003-11-14Exp: 2004-11-14→ Common Stock (61,897 underlying) - Disposition to Issuer
Loyalty Program Warrants (right to buy)
2003-11-13−42,400→ 0 total(indirect: By Stanoff Corporation)From: 2002-09-18Exp: 2005-09-18→ Common Stock (42,400 underlying) - Exercise of In-Money
New Warrants (right to buy)
2003-11-13−42,400→ 0 total(indirect: By Stanoff Corporation)Exercise: $4.43From: 2003-11-13Exp: 2003-11-13→ Common Stock and one-year warrants (42,400 underlying) - Disposition to Issuer
Loyalty Program Warrants (right to buy)
2003-11-13−123,794→ 0 totalFrom: 2002-09-18Exp: 2005-09-18→ Common Stock (123,794 underlying) - Award
New Warrants (right to buy)
2003-11-13+123,794→ 0 totalExercise: $4.43From: 2003-11-13Exp: 2003-11-13→ Common Stock and one-year warrants (123,794 underlying) - Exercise of In-Money
New Warrants (right to buy)
2003-11-13−123,794→ 0 totalExercise: $4.43From: 2003-11-13Exp: 2003-11-13→ Common Stock and one-year warrants (123,794 underlying) - Award
One-Year Warrants (right to buy)
2003-11-13+21,200→ 21,200 total(indirect: By Stanoff Corporation)Exercise: $9.60From: 2003-11-14Exp: 2004-11-14→ Common Stock (21,200 underlying)
Footnotes (4)
- [F1]Pursuant to the Issuer's Offer to Exchange and Exercise, the Reporting Person tendered to the Issuer 123,794 loyalty program warrants in exchange for new warrants which were deemed to be exercised as of the expiration of the Offer to Exchange and Exercise for 123,794 shares of the Issuer's common stock and one-year warrants to purchase 61,897 shares of the Issuer's common stock.
- [F2]The Issuer's Offer to Exchange and Exercise, which expired on November 13, 2003, provided for the voluntary exchange of outstanding warrants issued to certain stockholders of the Issuer pursuant to the Issuer's 2002 Shareholder Loyalty Program for a like number of new warrants, and the concurrent exercise of such new warrants. Each new warrant entitled the holder to purchase at an exercise price of $4.43 (i) one share of the Issuer's common stock and (ii) a one-year warrant to purchase at an exercise price of $9.60 one share of the Issuer's common stock for every two new warrants exercised.
- [F3]Pursuant to the Issuer's Offer to Exchange and Exercise, the Reporting Person tendered to the Issuer 42,400 loyalty program warrants in exchange for new warrants which were deemed to be exercised as of the expiration of the Offer to Exchange and Exercise for 42,400 shares of the Issuer's common stock and one-year warrants to purchase 21,200 shares of the Issuer's common stock.
- [F4]Each loyalty program warrant entitles the holder to purchase one share of the Issuer's common stock at $4.43, which increased to $4.92 on September 18, 2003, and will increase to $5.41 on September 18, 2004, subject to adjustment in certain circumstances, at any time or from time to time, and ending at 5:00 p.m., New York City time, on September 18, 2005, at which time the loyalty program warrants will expire.