Estrella Glenn 4

4 · Sanswire Corp. · Filed Feb 8, 2011

Form 4

Period: 2011-01-31

President, CEO & CFO

Transactions

Purchase
Common Stock, par value $0.00001 per share
2011-01-31$0.07/sh+333,334$25,000→ 2,019,591 total
Award
Common Stock Options
2010-12-27+7,222,222→ 7,222,222 total
Exercise: $0.09From: 2010-12-27→ Common (7,222,222 underlying)
Award
Common Stock Purchase Warrants
2011-01-31+166,667→ 166,667 total
Exercise: $0.21From: 2011-01-31→ Common (166,667 underlying)
Award
Common Stock Purchase Warrants
2010-11-10+666,667→ 666,667 total
Exercise: $0.21From: 2010-11-10→ Common (666,667 underlying)

Footnotes (4)

[F1]On December 27, 2010, the Company and Mr. Estrella entered an Agreement whereby Mr. Estrella and the Company agreed to rescind the issuance of 5,000,000 shares previously issued to Mr. Estrella.
[F2]On January 31, 2011, Mr. Estrella received Common Stock Purchase Warrants (the "Warrants") to purchase 166,667 shares of Common Stock, at a purchase price of $0.21 per share, which Warrants expire in three years. The Warrants are exercisable on a cashless basis.
[F3]On December 27, 2010, Mr. Estrella received an option (the "Estrella Option") to purchase 7,222,222 shares of Common Stock at an exercise price of $0.09 per share, which was the closing price of the Company's Common Stock on the date the Company's Board of Directors approved the issuance of the Estrella Option, pursuant to an Option Agreement. The Estrella Option is fully vested and is exercisable until the earlier of three years from the effective date of the Estrella Option or 90 days after the termination of Mr. Estrella's employment with the Company.
[F4]On November 10, 2010, Mr. Estrella received Common Stock Purchase Warrants (the "November 2010 Warrants") to purchase 666,667 shares of Common Stock, at a purchase price of $0.21 per share, which November 2010 Warrants expire in three years. The Warrants are exercisable on a cashless basis.

Documents

1 file