SCHUERMANN MARTIN 4
4 · VISION INDUSTRIES CORP · Filed Sep 27, 2012
Insider Transaction Report
Form 4
SCHUERMANN MARTIN
DirectorPresident
Transactions
- Award
Non-Qualified Stock Option Plan (right to by Common Stock)
2010-12-05$0.20/sh+4,500,000$918,000→ 17,000,000 totalExercise: $0.20From: 2011-12-05Exp: 2015-12-05→ Common Stock (4,500,000 underlying)
Footnotes (2)
- [F1]Per employment agreement, exercise price is equal to 110% of the fair market value of such common stock shares at the date of the grant (date of the employment agreement). Per the 2009 Nonqualified Stock Option Plan, amended, the fair market value of a share of common stock means the closing sales price of a share of common stock on such date as reported on a national securities exchange or, if none, as reported on the Over the Counter Bulletin Board ("OTCBB")system. On June 14, 2011 (the grant date) the closing sales price was $0.185 per share. Thus 110% of $0.185 is $0.204 per share.
- [F2]Option vests and becomes exercisable in three (3) equal yearly installments beginning one year after December 5, 2010 (effective date of the employment agreement) and expiring five years therafter.