4//SEC Filing
YTB International, Inc. 4
Accession 0001144204-07-058598
CIK 0000852766operating
Filed
Nov 5, 7:00 PM ET
Accepted
Nov 6, 5:53 PM ET
Size
10.1 KB
Accession
0001144204-07-058598
Insider Transaction Report
Form 4
YTB International, Inc.YTBLA.PK
Brent Michael
10% OwnerOther
Transactions
- Sale
Class A Common Stock
2007-11-05$1.26/sh−50,000$63,000→ 14,278,315 total - Sale
Class A Common Stock
2007-11-06$1.23/sh−35,000$43,050→ 14,243,315 total
Footnotes (3)
- [F1]The Issuer has two classes of common stock, Class A Common Stock and Class B Common Stock. The two classes of common stock are identical in all respects except as to voting power, as shares of Class A Common Stock are entitled to one-tenth vote per share, and shares of Class B Common Stock, one vote per share, on all matters submitted to a vote of the Issuer's stockholders. Because shares of Class B Common Stock automatically convert into Class A Common Stock on a one-for-one basis upon sale or other disposition (with the exception of transfers among related entities, transfers to trusts for the benefit of the transferring holder of the Class B Common Stock, bona fide pledges under financing arrangements and similar transfers), the Reporting Person has included all shares of Class B Common Stock that he holds in calculating and reporting the total number of shares of Class A Common Stock that he holds throughout this Form 4.
- [F2]The number of shares of Class A Common Stock reflected in this column includes shares of the Issuer's Class B Common Stock held by the Reporting Person, which automatically convert into Class A Common Stock on a one-for-one basis upon sale or other disposition. Of the shares reported in this row as beneficially owned by the Reporting Person, 2,099,994 shares are held by the Reporting Person individually and the remaining shares are held jointly by the Reporting Person and his spouse. The 2,099,994 shares held by the Reporting Person individually are restricted shares of the Issuer's common stock that were granted to the Reporting Person by the Issuer on January 2, 2007 (of which 699,998 shares were originally granted and an additional 1,399,996 shares were issued subsequently as a result of the reclassification and 3 for 1 stock split involving the Issuer's common stock (the "Reclassification")). (Continued to Footnote 3)
- [F3](Continued from Footnote 2) Of such 2,099,994 shares, 677,418 shares vested immediately on the grant date (225,806 shares prior to the Reclassification) and the remaining 1,422,576 shares (474,192 prior to the Reclassification) will vest in four equal installments of 355,644 shares each (118,548 shares each prior to the Reclassification), upon the first four anniversaries of the grant date, only upon the achievement of certain specified performance goals by the Reporting Person, as detailed in a restricted stock award agreement by and between the Issuer and the Reporting Person, dated as of January 2, 2007.
Documents
Issuer
YTB International, Inc.
CIK 0000852766
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000852766
Filing Metadata
- Form type
- 4
- Filed
- Nov 5, 7:00 PM ET
- Accepted
- Nov 6, 5:53 PM ET
- Size
- 10.1 KB