PRESIDENTIAL REALTY CORP/DE/ 4
4 · PRESIDENTIAL REALTY CORP/DE/ · Filed Jan 13, 2014
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.