SKIPTUNIS RAYMOND J 4
4 · POWER EFFICIENCY CORP · Filed Jan 12, 2004
Insider Transaction Report
Form 4
SKIPTUNIS RAYMOND J
Director
Transactions
- Other
Common Stock
2004-01-08$0.66/sh+107,773$71,130→ 157,773 total
Holdings
- 514,816
Nonqualified Stock Option
Exercise: $0.92From: 2002-11-08Exp: 2012-11-07→ Common Stock (514,816 underlying) - 100,000
Stock Purchase Warrant
Exercise: $2.00From: 2002-06-05Exp: 2007-06-05→ Common Stock (100,000 underlying)
Footnotes (1)
- [F1]Mr. Skiptunis purchased the shares of common stock from Power Efficiency through the cancellation of debt. The debt consisted of $71,130.61 of deferred salary owed by Power Efficiency to Mr. Skiptunis pursuant to Mr. Skiptunis's Employment Agreement dated November 7, 2002. The payment of the deferred salary was contingent upon Power Efficiency having positive cash flow from operations for 3 consecutive months.