Hassler Robert J 4

Accession 0001144204-10-012908

CIK 0001096560other

View on SEC.gov Company Profile

Filed

Mar 10, 7:00 PM ET

Accepted

Mar 11, 7:38 PM ET

Size

12.0 KB

Accession

0001144204-10-012908

Insider Transaction Report

Form 4

Period: 2010-03-10

SULPHCO INCSUF

Hassler Robert J

Director

Transactions

Award
Stock Option (Right to Buy)
2010-03-10+18,750→ 18,750 total
Exercise: $0.37Exp: 2020-03-10→ Common Stock (18,750 underlying)
Award
Stock Option (Right to Buy)
2010-03-10+37,500→ 37,500 total
Exercise: $0.37Exp: 2020-03-10→ Common Stock (37,500 underlying)
Award
Stock Option (Right to Buy)
2010-03-10+18,750→ 18,750 total
Exercise: $0.37Exp: 2020-03-10→ Common Stock (18,750 underlying)

Footnotes (4)

[F1]This option shall vest in full if SulphCo, Inc. (the "Company") executes commercial contracts with a cumulative net present value of at least $1 million on or before the vesting deadline of September 10, 2010. Net present value shall be equal to the sum of any upfront cash payments (after deduction for direct contract costs) and any license or royalty fees for a five (5) year period. Any license or royalty fees shall be discounted back to the present at a rate of three (3) percent per annum. The option is subject to the terms, definitions and provisions of the Company's 2006 Stock Option Plan, and the accompanying stock option agreement under which it is granted.
[F2]This option shall vest in full if the Company executes commercial contracts with a cumulative net present value of at least $2 million on or before the vesting deadline of December 10, 2010. Net present value shall be equal to the sum of any upfront cash payments (after deduction for direct contract costs) and any license or royalty fees for a five (5) year period. Any license or royalty fees shall be discounted back to the present at a rate of three (3) percent per annum. The option for 6,062 shares is subject to the terms, definitions and provisions of the Company's 2006 Stock Option Plan, and the accompanying stock option agreement under which it is granted. The option for 12,688 shares is 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 it is granted.
[F3]This option shall vest in full if the Company executes commercial contracts with a cumulative net present value of at least $7 million on or before the vesting deadline of March 10, 2011. Net present value shall be equal to the sum of any upfront cash payments (after deduction for direct contract costs) and any license or royalty fees for a five (5) year period. Any license or royalty fees shall be discounted back to the present at a rate of three (3) percent per annum. The option is 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 it is granted.
[F4]If the option does not vest by the aforementioned vesting deadline, the option shall expire on the date of such deadline.

Documents

1 file

4
v177122_ex.xmlPrimary

Issuer

SULPHCO INC

CIK 0001096560

→

Entity typeother

Related Parties

filerCIK 0001463548

Filing Metadata

Form type: 4
Filed: Mar 10, 7:00 PM ET
Accepted: Mar 11, 7:38 PM ET
Size: 12.0 KB

View on SEC.gov