MINRAD INTERNATIONAL, INC. 4
4 · MINRAD INTERNATIONAL, INC. · Filed Jun 20, 2008
Insider Transaction Report
Form 4
DiGiacinto David
DirectorCEO
Transactions
- Disposition to Issuer
Stock Options
2008-06-13$1.40/sh−25,000$35,000→ 0 totalExercise: $1.40From: 2005-05-01Exp: 2010-04-30→ Common Stock (25,000 underlying) - Award
Common Stock
2008-06-13$1.40/sh+50,000$70,000→ 54,036 total
Holdings
- 317,500
Stock options
Exercise: $2.44From: 2008-09-30Exp: 2013-09-30→ Common Stock (317,500 underlying) - 1,111,250
Stock Options
Exercise: $2.44From: 2008-04-01Exp: 2015-03-31→ Common stock (1,111,250 underlying) - 635,000
Stock Options
Exercise: $2.44From: 2008-11-01Exp: 2015-04-01→ Common Stock (635,000 underlying)
Footnotes (3)
- [F1]The stock options vest on September 30, 2008 provided Mr. DiGiacinto is still employed by Minrad as of that date.
- [F2]The stock Options vest at the rate of 1/18 for each month of continued employment from October 2008 through March 2010.
- [F3]All 1,111,250 stock options vest upon a change in control, as defined in Mr. DiGiacinto's employment agreement, in a transaction having a valuation of $4.00 per share or greater; and/or 317,500 options vest upon the company reporting positive cash flow for two consecutive quarters: and 158,750 options vest upon the company reporting positive cash flow for each subsequent fiscal quarter during the term of the agreement, provided however that any options that vest under the later method will reduce any options that vest under the change in control.