4//SEC Filing
PRESIDENTIAL REALTY CORP/DE/ 4
Accession 0001144204-14-001855
$PDNLACIK 0000731245operating
Filed
Jan 12, 7:00 PM ET
Accepted
Jan 13, 1:35 PM ET
Size
7.9 KB
Accession
0001144204-14-001855
Insider Transaction Report
Form 4
JEKOGIAN III NICKOLAS W
DirectorSee Remarks
Transactions
- Award
Warrant (Right to Buy)
2014-01-08+1,700,000→ 1,700,000 totalExercise: $0.10→ Class B Common Stock (1,700,000 underlying)
Holdings
- 370,000
Option (Right to Buy)
Exercise: $1.25→ Class B Common Stock (370,000 underlying)
Footnotes (6)
- [F1]Mr. Jekogian is exchanging $425,000 of his deferred compensation for a warrant to purchase 1,700,000 shares of Class B Common Stock. Both the deferred compensation and the exercise of the warrant are subject to completion of a transaction by the Issuer in which the Issuer receives cash or property of at least $20,000,000 (a "Capital Event").
- [F2]The Warrant will become exercisable six months following a Capital Event.
- [F3]The Warrant will expire 5-1/2 years after the Capital Event.
- [F4]74,000 of the shares of Class B Common Stock covered by the Option are currently exercisable; 148,000 shares of Class B Common Stock subject to the Option will become exercisable upon a Capital Event; and 148,000 shares of Class B Common Stock subject to the Option will become exercisable upon the consummation of a public offering of the Issuer's stock yielding proceeds of at least $40 million to the Issuer. All Options not previously exercised will become exercisable upon a change of control.
- [F5]Option will expire November 8, 2021.
- [F6]Option and the Warrant will expire early upon certain events of termination of the reporting person's employment.
Documents
Issuer
PRESIDENTIAL REALTY CORP/DE/
CIK 0000731245
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000731245
Filing Metadata
- Form type
- 4
- Filed
- Jan 12, 7:00 PM ET
- Accepted
- Jan 13, 1:35 PM ET
- Size
- 7.9 KB