Ferrell Jeffrey 4
4 · LPATH, INC · Filed Mar 27, 2012
Insider Transaction Report
Form 4
LPATH, INCLPTN
Ferrell Jeffrey
Director
Transactions
- Award
Restricted Stock Units
2012-03-14+40,000→ 40,000 totalExercise: $0.00→ Class A Common Stock (40,000 underlying)
Footnotes (3)
- [F1]Each restricted stock unit represents a contingent right to receive one share of Lpath, Inc. Class A Common Stock.
- [F2]The Restricted Stock Units were granted to the reporting person pursuant to the Lpath, Inc. Amended and Restated 2005 Equity Incentive Plan and are subject to a vesting schedule described in footnote (3) below.
- [F3]The Restricted Stock Units shall vest over one year. Twenty-five percent of the Restricted Stock Units will vest on the date three months following the vesting commencement date of March 14, 2012 and the remaining seventy-five percent will vest in three equal quarterly installments thereafter. Vested shares will be delivered to the reporting person on the fifth anniversary of the date of grant or upon an earlier termination of the reporting person's service to Lpath, disability, death, or sale of Lpath.