4//SEC Filing
Wang Guojun 4
Accession 0001079973-11-000074
CIK 0001080627other
Filed
Jan 26, 7:00 PM ET
Accepted
Jan 27, 5:19 PM ET
Size
8.6 KB
Accession
0001079973-11-000074
Insider Transaction Report
Form 4
Wang Guojun
DirectorCEO, COB10% Owner
Transactions
- Other
Common Stock, $.0001 par value
2011-01-20$0.00/sh+540,000$54→ 9,607,600 total - Other
Common Stock, $.0001 par value
2011-01-20$0.00/sh+550,000$55→ 9,607,600 total(indirect: By Spouse)
Footnotes (2)
- [F1]The Reporting Person entered into an Escrow Agreement dated December 8, 2009 (the "Escrow Agreement") with certain investors of the Company pursuant to which, the Reporting Person agreed to deposit shares of the Company's common stock owned by him, to be held for the benefit of the investors. The Reporting Person agreed that if the Company does not attain a minimum audited net income threshold for the fiscal year ended December 31, 2010, the escrow agent may deliver his escrowed shares to the investors. However, if the audited net income threshold is met, the shares in escrow will be returned to Mr. Wang. The 540,000 shares were released to the Reporting Person as the Company met the minimum after-tax net income threshold for the fiscal year ended December 31, 2010.
- [F2]The Reporting Person's wife (the "Wife") entered into the Escrow Agreement pursuant to which the Wife agreed to deposit shares of the Company's common stock owned by her, to be held for the benefit of the investors. The Wife agreed that if the Company does not attain a minimum audited net income threshold for the fiscal year ended December 31, 2010, the escrow agent may deliver her escrowed shares to the investors. However, if the audited net income threshold is met, the shares in escrow will be returned to the Wife. The 550,000 shares were released to the Wife as the Company met the minimum after-tax net income threshold for the fiscal year ended December 31, 2010.
Documents
Issuer
CHINA NEW MEDIA CORP
CIK 0001080627
Entity typeother
Related Parties
1- filerCIK 0001477687
Filing Metadata
- Form type
- 4
- Filed
- Jan 26, 7:00 PM ET
- Accepted
- Jan 27, 5:19 PM ET
- Size
- 8.6 KB