Searchlight Minerals Corp. 4
4 · Searchlight Minerals Corp. · Filed Sep 1, 2015
Insider Transaction Report
Form 4
ORING MARTIN B
Director
Transactions
- Award
OPTIONS
2015-08-28+2,000,000→ 2,000,000 total(indirect: By Wealth Preservation Defined Benefit Plan)Exercise: $0.50From: 2015-12-19Exp: 2020-12-19→ Common Stock (2,000,000 underlying)
Footnotes (4)
- [F1]Reflects the issuance of options to purchase up to 2,000,000 shares of common stock on August 28, 2015 for services provided as a director and officer of Searchlight Minerals Corp.
- [F2]The per share exercise price shall be equal to the greater of: (i) $0.50; and (ii) the fair market value of Searchlight Minerals Corp.'s common stock based on the closing price on December 18, 2015.
- [F3]The options shall vest and become exercisable, in whole or in part, from and after December 19, 2015, so long as the holder has continually provided services to Searchlight Minerals Corp. in the same capacity from the date of issuance through December 19, 2015.
- [F4]These securities are held by Wealth Preservation, Defined Benefit Plan, of which Mr. Martin Oring and Mrs. Olivia Oring are sole beneficiaries and trustees, and in such capacity are deemed to hold voting and dispositive power over the securities held by the Wealth Preservation Defined Benefit Plan. Mrs. Olivia Oring is Mr. Oring's wife.