4//SEC Filing
Wang Jack 4
Accession 0001062993-23-015241
CIK 0001104038other
Filed
Jul 23, 8:00 PM ET
Accepted
Jul 24, 4:31 PM ET
Size
11.2 KB
Accession
0001062993-23-015241
Insider Transaction Report
Form 4
VerifyMe, Inc.VRME
Wang Jack
SVP, Technology and CIO
Transactions
- Award
Restricted Stock Units
2023-07-20+75,000→ 75,000 totalExercise: $0.00→ Common Stock, par value $0.001 per share (75,000 underlying)
Holdings
- 59,248
Restricted Stock Units
Exercise: $0.00→ Common Stock, par value $0.001 per share (59,248 underlying) - 40,000
Restricted Stock Units
Exercise: $0.00→ Common Stock, par value $0.001 per share (40,000 underlying) - 15,274
Common Stock, par value $0.001 per share
Footnotes (5)
- [F1]These restricted stock units, which convert into common stock on a one-for-one basis, were granted under the VerifyMe, Inc. 2020 Equity Incentive Plan in a transaction exempt under Rule 16b-3 and vest in three tranches, except as otherwise provided in the award notice. Tranche 1 will vest 20,000 shares of common stock after the Reporting Person's continued employment on or after June 18, 2024 if the price of the Company's common stock increases to $2.21 per share and trades at or above that price for 20 consecutive trading days prior to June 18, 2027.
- [F2](Continued from footnote 1) Tranch 2 will vest 25,000 shares after the Reporting Person's continued employment on or after June 18, 2025 if the price of the Company's common stock increases to $2.94 per share and trades at or above that price for 20 consecutive trading days prior to June 18, 2027. Tranch 3 will vest 30,000 shares after the Reporting Person's continued employment on June 18, 2027 if the price of the Company's common stock increases to $3.68 per share and trades at or above that price for 20 consecutive trading days prior to June 18, 2027.
- [F3]These restricted stock units, which convert into common stock on a one-for-one basis, vest one-third on each of 11/2/2023, 11/2/2024 and 11/2/2025, except as otherwise provided in the award notice.
- [F4]These restricted stock units, which convert into common stock on a one-for-one basis, vest on 4/22/2024 in two equal tranches, except as otherwise provided in the award notice. Tranch 1 will vest on the second anniversary of the date of grant if the issuer's common stock during such period was at or above $5.00 for 20 consecutive trading days. In the event that the issuer's common stock during such period does not reach $5.00 for 20 consecutive trading days, Tranch 1 will vest on the third anniversary of the date of grant if the issuer's common stock during such period was at or above $5.00 for 20 consecutive trading days.
- [F5](Continued from footnote 4) Tranch 2 will vest on the second anniversary of the date of grant if the issuer's common stock during such period was at or above $7.00 for 20 consecutive trading days. In the event that the issuer's common stock during such period does not reach $7.00 for 20 consecutive trading days, Tranch 2 will vest on the third anniversary of the date of grant if the issuer's common stock during such period was at or above $7.00 for 20 consecutive trading days.
Issuer
VerifyMe, Inc.
CIK 0001104038
Entity typeother
Related Parties
1- filerCIK 0001926218
Filing Metadata
- Form type
- 4
- Filed
- Jul 23, 8:00 PM ET
- Accepted
- Jul 24, 4:31 PM ET
- Size
- 11.2 KB