4//SEC Filing
Staffing 360 Solutions, Inc. 4
Accession 0001144204-15-037381
CIK 0001499717operating
Filed
Jun 15, 8:00 PM ET
Accepted
Jun 16, 10:31 AM ET
Size
7.1 KB
Accession
0001144204-15-037381
Insider Transaction Report
Form 4
Briand Matthew James
DirectorChief Executive Officer
Transactions
- Other
Series A Preferred Stock, $0.00001 par value per share
2015-05-29+623,628→ 623,628 totalFrom: 2015-05-29Exp: 2018-12-31→ Common Stock (810,716 underlying)
Footnotes (2)
- [F1]On May 29, 2015, the Reporting Person was issued 623,628 shares of Series A Preferred Stock of Staffing 360 Solutions, Inc. (the "Company") in connection with the conversion of the Gross Profit Appreciation Bonus associated with the Reporting Person's employment agreement. The Series A Preferred Stock bears and pays monthly cash dividends at the rate of twelve percent (12%). Prior to the redemption date, shares of the Series A Preferred Stock are convertible into shares of common stock at the Reporting Person's election, at a conversion rate of one and three tenths (1.3) shares of common stock for every one share of Series A Preferred Stock that the Reporting Person elects to convert.
- [F2]On December 31, 2018, the Company shall redeem all shares of the Series A Preferred Stock for either cash or for shares of common stock, such form of redemption to be determined by the Company in its sole discretion. The redemption price shall be equal to $1.00 for each share of Series A Preferred Stock, multiplied by the number of shares of Series A Preferred Stock held by the Reporting Person, less the aggregate amount of cash dividends paid to the Reporting Person through the redemption date, and less the amount, if any, of the expected value of the Gross Profit Appreciation Bonus that is unearned as of the redemption date, as calculated pursuant to the terms of the Reporting Person's employment agreement. If the redemption price is paid in shares of common stock, the Reporting Person shall initially receive one and three tenths (1.3) shares of common stock for each $1.00 of the redemption price.
Documents
Issuer
Staffing 360 Solutions, Inc.
CIK 0001499717
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001499717
Filing Metadata
- Form type
- 4
- Filed
- Jun 15, 8:00 PM ET
- Accepted
- Jun 16, 10:31 AM ET
- Size
- 7.1 KB