4//SEC Filing
CHAMBERS MARION CLAY 4
Accession 0001144204-10-012912
CIK 0001096560other
Filed
Mar 10, 7:00 PM ET
Accepted
Mar 11, 7:40 PM ET
Size
12.3 KB
Accession
0001144204-10-012912
Insider Transaction Report
Form 4
SULPHCO INCSUF
CHAMBERS MARION CLAY
Chief Operating Officer
Transactions
- Award
Stock Option (Right to Buy)
2010-03-10+50,000→ 50,000 totalExercise: $0.37Exp: 2020-03-10→ Common Stock (50,000 underlying) - Award
Stock Option (Right to Buy)
2010-03-10+25,000→ 25,000 totalExercise: $0.37Exp: 2020-03-10→ Common Stock (25,000 underlying) - Award
Stock Option (Right to Buy)
2010-03-10+25,000→ 25,000 totalExercise: $0.37Exp: 2020-03-10→ Common Stock (25,000 underlying)
Footnotes (4)
- [F1]This option was granted by the Board of Directors of SulphCo, Inc. (the "Company") to the Reporting Person as 2010 incentive compensation. This option shall vest in full if 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 SulphCo, Inc. 2008 Omnibus Long-Term Incentive Plan, and the accompanying stock option agreement under which it is granted.
- [F2]This option was granted by the Board of Directors of SulphCo, Inc. (the "Company") to the Reporting Person as 2010 incentive compensation. 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 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 was granted by the Board of Directors of SulphCo, Inc. (the "Company") to the Reporting Person as 2010 incentive compensation. 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
Issuer
SULPHCO INC
CIK 0001096560
Entity typeother
Related Parties
1- filerCIK 0001426692
Filing Metadata
- Form type
- 4
- Filed
- Mar 10, 7:00 PM ET
- Accepted
- Mar 11, 7:40 PM ET
- Size
- 12.3 KB