Young Eric 4
4 · WINSONIC DIGITAL MEDIA GROUP LTD · Filed Nov 9, 2005
Insider Transaction Report
Form 4
Young Eric
COO and CFO
Transactions
- Award
Option to Buy Common Stock
2005-11-05$1.00/sh+500,000$500,000→ 500,000 totalFrom: 2005-11-05Exp: 2015-11-05→ Common Stock (500,000 underlying) - Purchase
Common Stock
2005-11-05$0.01/sh+750,000$7,500→ 1,250,000 total
Footnotes (2)
- [F1]750,000 shares of common stock at a purchase price of $.01, of which 1/3 will vest immediately, 1/3 at the closing of the next round of funding or January 1, 2006, which ever is earlier, and the remaining 1/3 will vest when the company's common stock resumes trading on the OTCBB.
- [F2]The Option vests as follows: 10% shall vest immediately and the remaining 90% shall vest at the rate of 1/12th per month for 12 months.