DURHAM TIMOTHY S 4
4 · NATIONAL LAMPOON INC · Filed Dec 23, 2004
Insider Transaction Report
Form 4
DURHAM TIMOTHY S
Director10% Owner
Transactions
- Purchase
Series C Convertible Preferred Stock
2004-10-25+28,169→ 28,169 totalFrom: 2004-10-25→ Common Stock (563,380 underlying) - Purchase
Warrant for Common Shares
2004-10-25+28,169→ 28,169 totalExercise: $1.77From: 2004-10-25→ Common Stock (281,690 underlying) - Award
Director Stock Option (right to buy)
2004-06-17+15,000→ 15,000 totalExercise: $1.60From: 2004-06-17Exp: 2014-06-16→ Common Stock (15,000 underlying)
Footnotes (3)
- [F1]The option vested with respect to all shares on the date of grant. Mr. Durham's grant was for 7,500 shares of common stock at an exercise price of $3.20 per share. As a result of the Company's two for one stock split on September 15, 2004, the number of shares underlying the grant was doubled to 15,000 and the exercise price was halved to $1.60.
- [F2]On October 25, 2004, the Reporting Person converted $1,000,000 of loans he had made to the Issuer into 28,169 shares of Series C Convertible Preferred Stock. Each share of Series C Convertible Preferred Stock is convertible into 20 shares of common stock, and one warrant to purchase 10 shares of commmon stock at $1.775 per share.
- [F3]N/A