ASHMAN JAMES P 4
4 · Microphase Corp · Filed Sep 25, 2017
Insider Transaction Report
Form 4
Microphase CorpNONE
ASHMAN JAMES P
DirectorChief Financial Officer
Transactions
- Award
Common Stock
2014-12-29+6,667→ 6,667 total - Award
Common Stock
2015-09-30+33,333→ 40,000 total - Award
Options
2015-09-30+25,000→ 25,000 totalExercise: $2.00Exp: 2022-09-30→ Common Stock (25,000 underlying)
Footnotes (5)
- [F1]On December 5, 2016, the issuer effectuated a 1 for 3 reverse split of its shares of common stock. All share figures in this Form 4 reflect that reverse split.
- [F2]Mr. Ashman received the shares and options from the registrant in consideration for his service as an officer.
- [F3]The 33,333 shares vested as follows: (i) 10,000 on September 30, 2015, (ii) 10,000 on December 31, 2015, (iii) 10,000 on March 31, 2016, and (iv) 3,333 on June 30, 2016.
- [F4]The exercise price is $2.00, which was the fair market value of a share of common stock as determined by the board of directors on September 30, 2015. There has never been a public market for the issuer's shares of common stock.
- [F5]The vesting schedule for the 25,000 options is as follows: (i) 8,334 on September 30, 2015, (ii) 8,333 on September 30, 2016, and (iii) 8,333 on September 30, 2017.