HITCHCOCK WILLIAM M 4
4 · Patient Safety Technologies, Inc · Filed Jun 28, 2010
Insider Transaction Report
Form 4
HITCHCOCK WILLIAM M
Director
Transactions
- Award
Stock option (right to buy)
2010-06-24+200,000→ 200,000 totalExercise: $1.40Exp: 2012-06-30→ Common Stock (200,000 underlying) - Disposition to Issuer
Stock option (right to buy)
2010-06-24−200,000→ 0 totalExercise: $1.40Exp: 2020-01-26→ Common Stock (200,000 underlying)
Footnotes (1)
- [F1]The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The "old" option, which was originally granted on January 26, 2010, provided for vesting over 48 months at a rate of 1/48th of the grant per month such that 100% of the options would be fully vested and exercisable on January 26, 2014, and pursuant to which vested options would have expired three months following Mr. Hitchcock's resignation as a Director. As amended, 50,000 options are fully vested as of Mr. Hitchcock's resignation on June 24, 2010, and the expiration date has been extended to June 30, 2012.