LAPOLLA INDUSTRIES INC 4
4 · LAPOLLA INDUSTRIES INC · Filed Sep 29, 2014
Insider Transaction Report
Form 4
Brown Howard Lewis
Director
Transactions
- Award
Option (Right to Buy)
2011-12-14+500,000→ 500,000 totalExercise: $0.60Exp: 2015-01-16→ Common Stock, PV $.01 (500,000 underlying) - Disposition to Issuer
Option (Right to Buy)
2011-12-14+500,000→ 0 totalExercise: $0.60Exp: 2012-01-15→ Common Stock, PV $.01 (500,000 underlying)
Footnotes (1)
- [F1]The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on January 16, 2007 and provided for vesting in my former advisor/consultant to the Board role in two equal installments beginning January 16, 2007, and once vested these options were exercisable at the rate of 50% each year after all of the options vested. On May 22, 2007, upon becoming elected to the Board, the vesting criteria changed whereby 86,300 of the options automatically vested with the remaining 413,700 options being subject to vesting in three equal installments beginning January 15, 2008, and once vested these options are exercisable at the rate of 33 1/3% each year after each respective vesting date.