DESTINY MEDIA TECHNOLOGIES INC 4
4 · DESTINY MEDIA TECHNOLOGIES INC · Filed Jan 28, 2014
Insider Transaction Report
Form 4
VESTERGAARD STEVE
DirectorPresident & CEO10% Owner
Transactions
- Exercise/Conversion
Common
2014-01-15$0.50/sh+150,000$75,000→ 11,474,077 total - Exercise/Conversion
Stock Options (Right to Buy)
2014-01-15−150,000→ 0 totalExercise: $0.50From: 2012-01-19Exp: 2014-01-19→ Common Stock (150,000 underlying) - Disposition to Issuer
Stock Options (Right to Buy)
2014-01-15$0.95/sh−150,000$142,500→ 150,000 totalExercise: $0.50From: 2012-01-19Exp: 2014-01-19→ Common Stock (300,000 underlying) - Tax Payment
Common
2014-01-15$1.72/sh−43,660$75,095→ 11,430,417 total
Footnotes (2)
- [F1]Reflects 150,000 stock options cancelled by the issuer in exchange for a cash payment of $142,500 representing the difference between the low market price on January 15, 2014, being $1.45 per share, less the exercise of $0.50 per share ($0.95). The funds will be used by the insider to fund the tax liability associated with the cashless exercise of the stock options. The transaction was approved by the Board of Directors.
- [F2]Reflects 43,660 shares withheld by the issuer at a price of $1.72 per share less the exercise price of $0.50 per share to fund the cashless exercise of stock options held by Mr. Vestergaard, which cashless exercise was approved by the Board of Directors.