Ottaviani William L 4
4 · ZION OIL & GAS INC · Filed Apr 6, 2010
Insider Transaction Report
Form 4
Ottaviani William L
President and COO
Transactions
- Award
Stock Options
2010-03-31+2,020→ 2,020 totalExercise: $0.01Exp: 2020-01-31→ Common Stock (2,020 underlying)
Footnotes (1)
- [F1]The options were granted under the Company's 2005 Stock Option Plan. Pursuant to the Reporting Person's employment agreement with the company, at the end of each calendar quarter, beginning with the quarter ended March 31, 2010, the Reporting Person is entitled to fully vested options at a per share exercise price of $0.01 to purchase such number of the Company's common stock, par value $0.01 per share (the "Common Stock"), as shall equal $12,500 divided by the closing price on the last trading day of the respective calendar quarter of the Company's publicly traded share of Common Stock, but in no event less than $5.00 per share. The Number of option shares is based on $6.19, the closing of market price on March 31, 2010.