Rosenbaum David W. 4
4 · Zoo Entertainment, Inc · Filed Feb 16, 2010
Insider Transaction Report
Form 4
Zoo Entertainment, IncZOOE.OB
Rosenbaum David W.
Pres. of Zoo Publishing, Inc.
Transactions
- Award
Options
2010-02-11+202,581,600→ 202,581,600 totalExercise: $0.00Exp: 2020-02-11→ Common Stock (202,581,600 underlying)
Footnotes (2)
- [F1]The Options were granted as partial consideration for Mr. Rosenbaum's continued personal guarantee of the payment and performance by Zoo Entertainment, Inc. (the "Company") of certain obligations in connection with a previously entered into purchase order financing, pursuant to a Fee Letter entered into between Mr. Rosenbaum and the Company, dated as of May 12,2009, as amended on August 31, 2009 and November 20, 2009. The Options were granted outside of the Company's 2007 Employee, Director and Consultant Stock Plan, as amended.
- [F2]The Options vest as follows: commencing as of the Effective Date (as defined below), 72% vest immediately, 14% vest on May 12, 2010 and 14% vest on May 12, 2011. The grant of such Options is conditioned upon, and cannot be exercised prior to, the effectiveness (the "Effective Date") of those certain amendments to the Company's Certificate of Incorporation authorizing an increase in the number of authorized shares of Common Stock from 250,000,000 shares to 3,500,000,000 shares and effecting a reverse stock split at a ratio of one for 600 shares of Common Stock (the "Charter Amendments"), and in the event the Charter Amendments are not filed prior to September 1, 2010, the Options shall be deemed immediately canceled.