US MEDSYS CORP 4
4 · US MEDSYS CORP · Filed Jun 9, 2005
Insider Transaction Report
Form 4
US MEDSYS CORPUMSY
Sieckman Kenton D
Other
Transactions
- Exercise/Conversion
Option
2005-05-06−250,000→ 0 totalExercise: $0.18From: 2003-11-03Exp: 2006-11-03→ Common Stock (250,000 underlying) - Exercise/Conversion
Common Stock
2005-05-06$0.18/sh+250,000$45,000→ 175,000 total - Tax Payment
Common Stock
2005-05-06$0.18/sh−75,000$13,500→ 175,000 total
Footnotes (1)
- [F1]The Reporting Person was granted options on November 3, 2003 to purchase 250,000 shares of common stock at $.25 per share. On May 6, 2005, pursuant to a severance agreement, the Issuer adjusted the exercise price of the 250,000 options to a price per share resulting in the issuance of exactly 175,000 shares of common stock on a cashless exercise basis. As a result, the exercise price was adjusted from $.25 per share to $.18 per share. The Reporting Person simultaneously exercised the 250,000 options on the cashless exercise basis and the Issuer withheld 75,000 shares in payment of the exercise price.