ISOLAGEN INC 4
4 · ISOLAGEN INC · Filed Jun 7, 2006
Insider Transaction Report
Form 4
ISOLAGEN INCILE
Transactions
- Award
Employee Stock Option (Right to buy)
2006-06-05+400,000→ 860,000 totalExercise: $1.88Exp: 2016-06-05→ Common stock (400,000 underlying)
Footnotes (2)
- [F1]The shares underlying the option vest upon the occurrence of any of the following events: (i) upon the closing of the sale of substantially all of the assets of the Company or the reorganization, consolidation or the merger of the Company; provided that the event results in the payment or distribution of consideration valued in good faith by the Board of Directors at $25 per share or more; or (ii) upon the closing of a tender offer or exchange offer to purchase 50% or more of the issued and outstanding shares of Common Stock of the Company at a price per share valued in good faith by the Board of Directors at $25 or more; or
- [F2](iii) immediately following a "Stock Acquisition Date," as that term is defined in the Rights Plan adopted by the Company on May 12, 2006 (provided that said rights are not subsequently redeemed by the Company or that the Rights Plan is not subsequently amended to preclude exercise of the rights issued thereunder, prior to the Distribution Date, as that term is defined in the Rights Plan); or (iv) at such other time as the Board of Directors, in its sole discretion, deems appropriate; provided in each case that the reporting person is employed by the Company at the time of said event.