Menniti Richard Saverio 4
4 · BPZ RESOURCES, INC. · Filed Aug 26, 2011
Insider Transaction Report
Form 4
Menniti Richard Saverio
Interim CFO
Transactions
- Award
Incentive Stock Option
2011-08-25+60,000→ 60,000 totalExercise: $3.04Exp: 2021-08-25→ Common Stock (60,000 underlying) - Award
Common Stock
2011-08-25+20,000→ 37,069 total
Footnotes (3)
- [F1]On August 25, 2011, in connection with the promotion of the reporting person to CFO, the reporting person was granted 20,000 shares of Common Stock pursuant to the Company's 2007 Long-term Incentive Compensation Plan. The grant cliff vests on August 25, 2013.
- [F2]The exercise price is based on the closing market price on the date of Board approval of the grant, August 25, 2011.
- [F3]On August 25, 2011, in connection with the promotion of the reporting person to CFO, the reporting person was granted an option to purchase 60,000 shares of Common Stock pursuant to the Company's 2007 Long-term Incentive Compensation Plan. The exercise price of the Common Stock covered by the option is $3.04 per share. The option vests in three equal annual installments of 20,000 shares on August 25, 2012, August 25, 2013 and August 25, 2014. The unexercised portion of the option shall expire and cease to be exercisable on August 25, 2021.