4//SEC Filing
SULPHCO INC 4
Accession 0001144204-08-036209
CIK 0001096560operating
Filed
Jun 19, 8:00 PM ET
Accepted
Jun 20, 5:38 PM ET
Size
7.3 KB
Accession
0001144204-08-036209
Insider Transaction Report
Form 4
SULPHCO INCSUF
Ryan Larry
DirectorChief Executive Officer
Transactions
- Award
Employee Stock Option (Right to Buy)
2008-06-18+500,000→ 500,000 totalExercise: $3.28Exp: 2018-06-18→ Common Stock (500,000 underlying)
Footnotes (2)
- [F1]Dr. Ryan's options shall vest in full if within 18 months, SulphCo, Inc. (the "Company") receives either: (a) a firm customer order(s) for the installation of Sonocracking equipment having a minimum processing capacity of 1,000,000 barrels per day and the customer is contractually obligated to pay, or the Company reasonably expects to receive, at least $1 per barrel per day of gross margin for a minimum term of one year, or (b) firm customer order(s) in such greater or lesser amount where the customer is contractually obligated to pay, or the Company reasonably expects to receive an aggregate annual revenue equivalent to item (a) ($350 million). Gross margin shall mean the net operating profit, net of all operating expenses, including without limitation repairs and replacements (including probe replacements), labor, on-site supervision, energy and utilities, catalysts or additives, local taxes or duties (excluding income taxes) and distributor's fees.
- [F2]Gross margin shall not include amortization of the investment, interest expense, home office, administrative or overhead expense (including office, clerical and support staff on-site or in the region), sales expenses (including finder's fees) or corporate income taxes. The option for 450,000 shares of common stock are subject to the terms, definitions and provisions of the SulphCo, Inc. 2008 Omnibus Long-Term Incentive Plan, and the accompanying stock option agreement under which they are granted. The option for 50,000 shares of common stock are subject to the terms, definitions and provisions of the Company's 2006 Stock Option Plan, and the accompanying stock option agreement under which they are granted .
Documents
Issuer
SULPHCO INC
CIK 0001096560
Entity typeoperating
IncorporatedNV
Related Parties
1- filerCIK 0001096560
Filing Metadata
- Form type
- 4
- Filed
- Jun 19, 8:00 PM ET
- Accepted
- Jun 20, 5:38 PM ET
- Size
- 7.3 KB