PHILLIPS KEVIN 4
4 · WINDSWEPT ENVIRONMENTAL GROUP INC · Filed Jul 5, 2005
Insider Transaction Report
Form 4
PHILLIPS KEVIN
Director
Transactions
- Award
Stock Option (Right to Buy)
2005-06-30+250,000→ 750,000 totalExercise: $0.09Exp: 2015-06-29→ Common Stock (250,000 underlying)
Footnotes (2)
- [F1]Fully vested and immediately exercisable.
- [F2]Non-plan options granted in connection with a transaction by and between the Company and Laurus Master Fund Ltd. ("Laurus") and the agreement of the reporting person, in his capacity as a Series A Preferred Stockholder, to (a) postpone the mandatory redemption of his Series A Preferred Stock from February 2007 until the earlier of (i) six monhts after the repayment of the note issued by the Company to Laurus or (ii) June 30, 2010 and (b) defer receipt of dividend payments on his Series A Preferred Stock due on and after June 30, 2005.