4//SEC Filing
Wang Yuejian 4
Accession 0001140361-10-009471
CIK 0001088787other
Filed
Mar 1, 7:00 PM ET
Accepted
Mar 2, 7:17 PM ET
Size
10.8 KB
Accession
0001140361-10-009471
Insider Transaction Report
Form 4
Wang Yuejian
DirectorCEO and Chairman of the Board10% Owner
Transactions
- Award
Common Stock, $.0001 par value
2010-02-26+213,700→ 213,700 total - Disposition to Issuer
Stock Option (Right to Buy)
2010-02-26−27,400→ 0 totalExercise: $2.50From: 2006-01-01Exp: 2011-01-01→ Common Stock (27,400 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2010-02-26−400,000→ 0 totalExercise: $5.00From: 2008-01-01Exp: 2012-01-01→ Common Stock (400,000 underlying)
Footnotes (2)
- [F1]On Febuary 26, 2010, the Issuer cancelled, pursuant to the Issuer's option exchange program, 27,400 options exercisable at $2.50 per share granted to the reporting person on January 1, 2005 and 400,000 options exercisable at $5.00 per share granted to the reporting person on January 1, 2005. In exchange for the options, the reporting person received 53,425 shares of stock plus 160,275 shares of restricted stock which vests in equal thirds of 54,425 on April 1, 2010, July 1, 2010 and October 1, 2010. All shares were issued pursuant to the Issuer's 2008 Executive Stock Incentive Plan.
- [F2]Amount does not include 4,000,000 shares of the Issuer's common stock held by Dragon Fund Management LLC ("Dragon Fund"), an entity in which the reporting person owns 1% of the membership interests and holds 50% of the voting control. The reporting person disclaims beneficial ownership of the Issuer's securities owned by Dragon Fund except to the extent of his pecuniary interest in Dragon Fund and this filing should not be construed as an admission that the reporting person is the beneficial owner of these securities.
Documents
Issuer
China Direct Industries, Inc.
CIK 0001088787
Entity typeother
Related Parties
1- filerCIK 0001373469
Filing Metadata
- Form type
- 4
- Filed
- Mar 1, 7:00 PM ET
- Accepted
- Mar 2, 7:17 PM ET
- Size
- 10.8 KB