DESTINY MEDIA TECHNOLOGIES INC 4
4 · DESTINY MEDIA TECHNOLOGIES INC · Filed Feb 12, 2014
Insider Transaction Report
Form 4
LANGS LAWRENCE JEFFREY
Director
Transactions
- Tax Payment
Common
2014-01-15$1.72/sh−21,830$37,548→ 353,588 total - Exercise/Conversion
Stock Options (Right to Buy)
2014-01-15−75,000→ 0 totalExercise: $0.50From: 2012-01-19Exp: 2014-01-19→ Common Stock (75,000 underlying) - Disposition to Issuer
Stock Options (Right to Buy)
2014-01-15$0.95/sh−75,000$71,250→ 75,000 totalExercise: $0.50From: 2012-01-19Exp: 2014-01-19→ Common Stock (150,000 underlying) - Exercise/Conversion
Common
2014-01-15$0.50/sh+75,000$37,500→ 375,418 total
Footnotes (2)
- [F1]Reflects 75,000 stock options cancelled by the issuer in exchange for a cash payment of $71,250 representing the difference between the low market price of 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 21,830 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. Langs, which cashless exercise was approved by the Board of Directors.