GRAY PATRICK J 4
4 · AXESSTEL INC · Filed Jun 8, 2012
Insider Transaction Report
Form 4
AXESSTEL INCAXST
Transactions
- Disposition to Issuer
Common Stock
2012-06-06−10,625→ 431,375 total - Disposition to Issuer
Employee Stock Option (Right to Buy)
2012-06-06−12,500→ 62,500 totalExercise: $0.66Exp: 2022-05-16→ Common Stock (12,500 underlying)
Footnotes (3)
- [F1]The Reporting Person voluntarily returned these shares to the issuer, which were previously awarded to the Reporting Person as a restricted stock grant. Such shares were returned to the issuer and were awarded to other employees of the issuer in the form of restricted stock grants.
- [F2]Represents a portion of an option that was cancelled by mutual agreement of the Reporting Person and the issuer. The reporting person received no consideration for the cancellation. The option was originally granted on May 16, 2012 and covered 75,000 shares. The shares represented by the portion of the option that was cancelled were awarded to other employees of the issuer in the form of employee stock options.
- [F3]1/3 of the shares subject to the option vests on May 16th 2013, and 1/12 of the shares subject to the option vests each quarter thereafter until the option is fully vested.