TORCHLIGHT ENERGY RESOURCES INC 4
4 · TORCHLIGHT ENERGY RESOURCES INC · Filed Jun 16, 2015
Insider Transaction Report
Form 4
Brda John A.
10% Owner
Transactions
- Award
Stock Options
2015-06-11+3,000,000→ 3,000,000 totalExercise: $1.57From: 2015-06-11Exp: 2020-06-11→ Common Stock (3,000,000 underlying)
Footnotes (2)
- [F1]The Stock Options were granted under the issuer's 2015 Stock Option Plan which plan was approved by the Board of Directors on June 10, 2015 and will be presented for approval to the issuer's stockholders at the upcoming 2015 annual meeting. The Stock Options will be subject to a two-year vesting schedule with one-half vesting immediately (subject to stockholders approving the 2015 Stock Option Plan), one-fourth vesting after one year of the grant date, and the remaining one-fourth vesting after the second year, provided however that the Stock Options will be subject to earlier vesting under certain events set forth in the 2015 Stock Option Plan, including without limitation a change in control. Further, the Stock Options cannot be exercised prior to obtaining stockholder approval of the 2015 Stock Option Plan, and the Stock Options will be cancelled if stockholder approval is not obtained.
- [F2]Executive compensation.