3//SEC Filing
PARKER GERALD C 3
Accession 0001144204-04-015153
CIK 0001081275other
Filed
Sep 26, 8:00 PM ET
Accepted
Sep 27, 5:42 PM ET
Size
10.3 KB
Accession
0001144204-04-015153
Insider Transaction Report
Form 3
BIDVILLE INCBVLE
PARKER GERALD C
Director10% Owner
Holdings
- 1,700,000(indirect: By St. James Investment Group, Inc.)
Common Stock
- 15,300,000(indirect: By Royal Palm Capital Group, Inc.)
Common Stock
Options
Exercise: $4.27From: 2005-01-12→ Common Stock (333,333 underlying)
Footnotes (3)
- [F1]Gerald C. Parker owns 54.75% of St. James Investment Group, Inc. ("St. James") and 51% of Royal Palm Capital Group, Inc. ("Royal Palm"). As of December 10, 2003, St. James directly owned 1,700,000 shares and Royal Palm directly owned 15,300,000 shares of Bidville, Inc. common stock, representing 6.7% and 60.3% of Bidville, Inc.'s 25,360,007 shares of common stock outstanding, respectively, as of the same date. Accordingly, Mr. Parker is considered to indirectly beneficially own all of the shares of Bidville, Inc. common stock directly owned by St. James and Royal Palm.
- [F2]Pursuant to an Employment Agreement ("Agreement") dated January 12, 2004 between Bidville, Inc. and Mr. Parker and filed with the Securities and Exchange Commission as Exhibit 10.13 to Bidville, Inc.'s Form 10-KSB for the fiscal year ended December 31, 2003, Gerald C. Parker is entitled to receive as compensation for his services as Chairman of the Board of Directors, options to purchase one million (1,000,000) shares of restricted common stock of the Company at an exercise price of 15% below the market price of the common stock on the date of the agreement. The closing price of Bidville's common stock for January 12, 2004, the date of the agreement, was $5.02. Accordingly, the exercise price of these options is $4.27. (continued on Footnote 3)
- [F3](Continued from Footnote 2) The options vest annually in one-third increments, with one-third vesting at the end of the 12th month from the date of the Agreement, one-third at the end of the 24th month from the date of the Agreement, and the remaining one-third vesting at the end of the 36th month from the date of the Agreement. As of the date of this filing, none of the options under the Agreement have vested.
Documents
Issuer
BIDVILLE INC
CIK 0001081275
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001032554
Filing Metadata
- Form type
- 3
- Filed
- Sep 26, 8:00 PM ET
- Accepted
- Sep 27, 5:42 PM ET
- Size
- 10.3 KB