Farnleitner Johann 4
4 · SULPHCO INC · Filed Mar 17, 2009
Insider Transaction Report
Form 4
SULPHCO INCSUF
Farnleitner Johann
Director
Transactions
- Award
Stock Option (Right to Buy)
2009-03-16+86,206→ 86,206 totalExercise: $0.87From: 2009-03-17Exp: 2019-03-17→ Common Stock (86,206 underlying)
Footnotes (1)
- [F1]This option was granted by the board of directors of SulphCo, Inc. to the Reporting Person as compensation, in lieu of cash compensation of $75,000, for serving on the board of directors ($100,000 annual compensation less $25,000 previously paid). The number of option shares was calculated by dividing $75,000 by the closing price on the grant date. The option grant is (i) conditioned upon stockholder approval of an amendment to the SulphCo, Inc. 2008 Omnibus Long-Term Incentive Plan (the "Plan") to increase the number of shares reserved for issuance under the Plan at the 2009 annual meeting of stockholders and (ii) subject to the terms, definitions and provisions of the Plan and the accompanying stock option agreement under which it was granted. If stockholder approval is not obtained, the option grant will be forfeited, and the Reporting Person shall receive cash.