PATTERSON GLENN W 4

Accession 0001144204-10-010073

CIK 0001028153other

View on SEC.gov Company Profile

Filed

Feb 25, 7:00 PM ET

Accepted

Feb 26, 8:38 AM ET

Size

28.2 KB

Accession

0001144204-10-010073

Insider Transaction Report

Form 4

Period: 2007-12-11

Axion Power International, Inc.AXPW

PATTERSON GLENN W

Director

Transactions

Conversion
Common
2008-05-29$2.10/sh+2,000$4,200→ 1,117,841 total(indirect: See footnote)
Other
Common
2009-07-10$3.00/sh+200,000$600,000→ 1,119,841 total(indirect: See footnote)
Award
WARRANT
2008-04-01+851→ 457,794 total(indirect: See footnote)
Exercise: $2.35From: 2008-04-01Exp: 2012-12-31→ Common Stock (851 underlying)
Award
WARRANT
2008-05-01+1,276→ 458,645 total(indirect: See footnote)
Exercise: $2.35From: 2008-05-01Exp: 2012-12-31→ Common Stock (1,276 underlying)
Award
OPTIONS
2009-06-25+14,285→ 52,285 total
Exercise: $1.40From: 2010-06-25Exp: 2015-06-25→ Common Stock (14,285 underlying)
Award
OPTIONS
2009-06-25+14,285→ 66,570 total
Exercise: $1.40From: 2011-06-25Exp: 2016-06-25→ Common Stock (14,285 underlying)
Conversion
Series A Preferred Stock
2010-02-24−120,000→ 0 total
Exercise: $1.07→ Common Stock (1,692,160 underlying)
Conversion
Common
2010-02-24$0.72/sh+1,692,160$1,223,432→ 2,812,001 total(indirect: See footnote)
Award
WARRANT
2007-12-11+3,405→ 454,389 total(indirect: See footnote)
Exercise: $2.35From: 2007-12-11Exp: 2012-12-31→ Common Stock (3,405 underlying)
Award
WARRANT
2008-05-29+2,500→ 461,145 total(indirect: See footnote)
Exercise: $2.60From: 2008-05-29Exp: 2013-05-29→ Common Stock (2,500 underlying)
Expiration
OPTIONS
2009-06-03−2,870→ 38,000 total
Exercise: $5.60From: 2005-06-04Exp: 2009-06-09→ Common Stock (2,870 underlying)
Award
OPTIONS
2009-06-25+14,285→ 80,855 total
Exercise: $1.40From: 2012-06-25Exp: 2017-06-25→ Common Stock (14,285 underlying)

Footnotes (6)

[F1]Issued in partial consideration of short term secured bridge loans.
[F2]There is no fixed expiration date.
[F3]Based on the initial investment of $1,200,000 on October & December 2006, the reporting person's effective cost is approximately $0.723 per share.
[F4]The conversion price of the Series A Convertible Preferred Stock was reset from $1.25 per share to approximately $1.07 per share. Also the Company, with reported losses since inception, did not formally declare dividends and accrued $608,750 in undeclared dividends through the date of conversion. Thus the value of the derivative shares increased over time by both the accrued dividends and the price reset. The initial purchase of 120,000 Series A Convertible Preferred shares at an initial conversion price of $1.25 per share translated into 960,000 derivatives securities on the date of acquisition. Thus an equivalent of 732,160 shares was effectively acquired on the date that these Series A Convertible Preferred Shares were converted into the Company's common stock.
[F5]The Securities are owned by HAP Investments LLC, a family corporation controlled by the reporting person.
[F6]Shares Received from the MegaC Trust pursuant to the terms of the 8% Non-Negotiable, Non-Recourse Promissory Note dated November 21, 2006 in the Principal amount of $600,000, the Maturity date of the Note was Nov 20, 2008.

Documents

1 file

4
v175671_ex.xmlPrimary

Issuer

Axion Power International, Inc.

CIK 0001028153

→

Entity typeother

Related Parties

filerCIK 0001278414

Filing Metadata

Form type: 4
Filed: Feb 25, 7:00 PM ET
Accepted: Feb 26, 8:38 AM ET
Size: 28.2 KB

View on SEC.gov