DYNTEK INC 4

4 · DYNTEK INC · Filed Jul 31, 2006

Form 4

Period: 2006-06-29

Director

Transactions

Award
Common Stock
2006-07-01+117,647→ 187,647 total
Award
Option to Purchase Common Stock
2006-07-01$0.17/sh+1,000,000$170,000→ 1,000,000 total
Exercise: $0.17From: 2006-07-01Exp: 2016-07-01→ Common Stock (1,000,000 underlying)
Award
Option to Purchase Common Stock
2006-07-01$0.17/sh+100,000$17,000→ 100,000 total
Exercise: $0.17From: 2006-07-01Exp: 2016-07-01→ Common Stock (100,000 underlying)
Award
Common Stock
2006-06-29$0.20/sh+70,000$14,000→ 70,000 total

Footnotes (3)

[F1](1) Pursuant to a Settlement and Release Agreement (the "Settlement Agreement"), dated as of June 29, 2006, by and between the Issuer and the Reporting Person, the Issuer and the Reporting Person agreed to cancel an aggregate of $14,000.00 of indebtedness owed to the Reporting Person in exchange for shares of the Issuer's Common Stock at a conversion price of $0.20 per share.
[F2](2) Effective July 1, 2006, the Reporting Person, as a non-employee director of the Issuer, received a stock grant for the number of shares equal to $20,000 divided by the closing price of the Issuer's common stock as reported on the Over the Counter Bulletin Board on June 30, 2006, which was equal to $0.17 per share.
[F3](3) The right to exercise the option is immediately vested as to one hundred percent (100%) of the shares.

Documents

1 file