DOUGLASS A STONE 4
4 · Orange 21 Inc. · Filed May 28, 2009
Insider Transaction Report
Form 4
Orange 21 Inc.ORNG
DOUGLASS A STONE
DirectorChief Executive Officer
Transactions
- Disposition to Issuer
Stock Option (Right to Buy)
2009-05-26−250,000→ 0 totalExercise: $3.28Exp: 2018-09-29→ Common Stock (250,000 underlying) - Award
Stock Option (Right to Buy)
2009-05-26+250,000→ 250,000 totalExercise: $1.50Exp: 2018-09-29→ Common Stock (250,000 underlying)
Footnotes (3)
- [F1]The option will vest and be exercisable as to 62,500 shares on September 29, 2009, and as to an additional 62,500 shares on each anniversary thereafter, such that the option will be one hundred percent (100%) vested on September 29, 2012, so long as Mr. Douglass remains in the employ of the Issuer.
- [F2]The option was to vest and be exercisable as to 62,500 shares on September 29, 2009, and as to an additional 62,500 shares on each anniversary thereafter, such that the option would be one hundred percent (100%) vested on September 29, 2012, so long as Mr. Douglass remained in the employ of the Issuer.
- [F3]The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the ?old? option and the grant of a replacement option.