Omagine, Inc. 4
4 · Omagine, Inc. · Filed Apr 3, 2017
Insider Transaction Report
Form 4
Omagine, Inc.OMAG
SMITH JACK A
Director
Transactions
- Purchase
Common Stock
2017-02-02$0.53/sh+94,340$50,000→ 302,700 total - Award
Common Stock
2017-01-04$0.62/sh+81,169$50,000→ 208,380 total
Footnotes (3)
- [F1]The Reporting Person was issued 81,169 restricted Shares of the Company's Common Stock on January 4, 2017 pursuant to the Issuer's compensation policy for all non-employee independent directors serving on its Board of Directors which provides for $50,000 of the $100,000 annual retainer payable to the Reporting Person in restricted Common Stock valued at the last sale price of the Company's Common Stock on the last trading day of the prior fiscal year. The Shares were valued at $0.616, the last sale price of the Company's publicly traded Common Stock on December 30, 2016.
- [F2]The Reporting Person purchased 94,340 restricted Shares of the Company's $0.001 par value Common Stock on February 2, 2017 at $0.53 per Share. The securities were offered and sold pursuant to the exemption from registration requirements under Section 4(a)(2) of the Securities Act and did not involve a public offering.
- [F3]The per Share purchase price to the Reporting Person was equal to the closing sale price of the Issuer's Common Stock on February 1, 2017 less the Finnerty discount of 18% for restricted stock and the total proceeds to the Issuer were $50,000.