GLOBAL AXCESS CORP 4
4 · GLOBAL AXCESS CORP · Filed Aug 16, 2007
Insider Transaction Report
Form 4
MICHALE LOIACONO J
Chief Financial Officer
Transactions
- Purchase
Common Stock par value $0.001
2007-08-16$0.27/sh+10,000$2,700→ 10,000 total
Holdings
- 250,000
Stock Options
Exercise: $0.32→ Common Stock (250,000 underlying) - 20,000
Stock Options
Exercise: $0.32→ Common Stock (20,000 underlying)
Footnotes (3)
- [F1]Pursuant to Stock Options Agreement entered into with Global Axcess Corp (the "Company"), 31,250 shares will vest on October 2, 2007 if the executive is employed by the Company as of October 2, 2007, with an expiration date of April 2, 2010. Another 31,250 shares will vest on April 2, 2008 if the executive is employed by the Company as of April 2, 2008, with an expiration date of April 2, 2011. Another 31,250 shares will vest on April 2, 2009 if the executive is employed by the Company as of April 2, 2009, with an expiration date of April 2, 2012. Another 31,250 shares will vest on April 2, 2010 if the executive is employed by the Company as of April 2, 2010, with an expiration date of April 2, 2013. 62,500 shares will vest on April 2, 2008 if the Company achieves $480,000 of accumulated operating income from continuing operations, with an expiration date of April 2, 2011.
- [F2]The final 62,500 shares will vest on April 2, 2012 if the closing price for the Company's stock is not less than $1.04 for 15 consecutive days, and is set to expire on April 2, 2015.
- [F3]N/A