DESTINY MEDIA TECHNOLOGIES INC 4
4 · DESTINY MEDIA TECHNOLOGIES INC · Filed Feb 5, 2014
Insider Transaction Report
Form 4
Kumagai Yoshitaro
Director
Transactions
- Exercise/Conversion
Common
2014-01-13$0.50/sh+75,000$37,500→ 590,950 total - Exercise/Conversion
Stock Options (Right to Buy)
2014-01-13−75,000→ 0 totalExercise: $0.50From: 2012-01-19Exp: 2014-01-19→ Common Stock (75,000 underlying) - Disposition to Issuer
Stock Options (Right to Buy)
2014-01-13$0.97/sh−75,000$72,750→ 75,000 totalExercise: $0.50From: 2012-01-19Exp: 2014-01-19→ Common Stock (150,000 underlying)
Footnotes (1)
- [F1]Reflects 75,000 stock options cancelled by the issuer in exchange for a cash payment of $72,750 representing the difference between the low market price on January 13, 2014, being $1.47 per share, less the exercise of $0.50 per share ($0.97). 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.