HORSCH LAWRENCE L 4
4 · MEDICALCV INC · Filed Aug 21, 2003
Insider Transaction Report
Form 4
MEDICALCV INCMDCVU
HORSCH LAWRENCE L
Director
Transactions
- Award
Option to purchase Common Stock
2003-08-19+100,000→ 100,000 totalExercise: $0.70From: 2007-08-19Exp: 2013-08-19→ Common Stock (100,000 underlying)
Footnotes (2)
- [F1]Granted pursuant to the Company's 2001 Equity Incentive Plan, which meets the requirements of Rule 16b-3.
- [F2]This option shall vest in full on August 19, 2007. This vesting may be accelerated to the extent of one-third of the shares purchasable under the option upon the occurrence of each of three performance measures: 1) the Company completes the sale of $6.0 million of debt or equity financing between August 19, 2003 and January 31, 2004; 2) the board of directors of the Company determines in good faith that any new product under development as of August 19, 2003 is authorized to move to the next phase of development on or before August 19, 2004; and 3) the bid price of the common stock of the Company exeeds $1.50 for at least ten consecutive trading days between August 19, 2003 and August 19, 2004.