Schafran Lazar G 4
4 · NEW FRONTIER ENERGY INC · Filed Jan 28, 2010
Insider Transaction Report
Form 4
NEW FRONTIER ENERGY INCNFEI.OB
Schafran Lazar G
Director
Transactions
- Award
Stock option
2009-11-13+1,000,000→ 2,000,000 totalExercise: $0.25From: 2009-11-13Exp: 2010-12-31→ Common stock (1,000,000 underlying) - Award
Stock option
2009-11-13+1,000,000→ 2,000,000 totalExercise: $0.50From: 2009-11-13Exp: 2011-12-31→ Common stock (1,000,000 underlying)
Footnotes (1)
- [F1]On or before December 31, 2010, Mr. Schafran has the right, but not the obligation, to cancel these stock options in exchange for a payment of $50,000. At the Company's election, this payment may be made either in cash or a 2 year unsecured promissory note issued by the Company in the principal amount of $50,000 (the "Note"). If the Company elects to issue the Note to Mr. Schafran, the Note will accrue interest on a monthly basis at a rate equal to the 1-month London Interbank Offered Rate, with such accrued and unpaid interest to be paid on the maturity date of the Note.