Carmichael Robert M 5
5 · Brownie's Marine Group, Inc · Filed Feb 15, 2012
Insider Transaction Report
Form 5
Carmichael Robert M
DirectorPresident & CEO10% Owner
Transactions
- Other
Common Stock
2011-04-21$0.00/sh+20,000,000$20,000→ 21,643,939 total - Other
Series A Convertible Preferred Stock
2011-04-21$0.00/sh+425,000$425→ 425,000 totalFrom: 2011-04-21→ Common Stock (42,500,000 underlying)
Footnotes (4)
- [F1]The Issuer granted Robert Carmichael 20,000,000 shares of restricted stock in consideration of personal guarantees he provided to secure restatement and consolidation of the first and second mortgages o f the Issuer's facilities. The restrictions on the common stock will expire 50% on April 20, 2012 and 50% on April 20, 2013, if Mr. Carmichael continues his full time employment with the Issuer.
- [F2]The Issuer issued 425,000 shares of preferred stock, designated as Series A Convertible Preferred Stock, to Robert Carmichael at a price per share of $0.001 in consideration of the forgiveness of $42,500 advanced by Mr. Carmichael to the Issuer. The Series A Convertible Preferred Stock may be converted to common stock at a rate of $0.00001 per share, subject to adjustment.
- [F3]The Series A Convertible Preferred Stock has no expiration date.
- [F4]Conversion price is $0.00001 per share.