TEMARES MELVIN LEWIS 4

4 · ELANDIA INTERNATIONAL INC. · Filed Jul 2, 2009

Form 4

Period: 2009-06-04

Director

Transactions

Award
Option to Purchase Common Stock
2009-06-04$0.45/sh+20,000$9,000→ 20,000 total
Exercise: $0.45From: 2009-09-04Exp: 2019-06-04→ Common Stock (20,000 underlying)
Other
OPTION TO PURCHASE COMMON STOCK
2008-08-28$0.45/sh+30,000$13,500→ 30,000 total
Exercise: $0.45From: 2008-08-28Exp: 2018-05-28→ COMMON STOCK (30,000 underlying)

Holdings

Footnotes (3)

[F1]These Options were granted pursuant to a Non-Qualified Stock Option Agreement under the Issuer's 2008 Executive Incentive Plan; one eighth (3,750) of the underlying shares will vest equally on a quarterly basis over a two year-period beginning August 28, 2008, provided the reporting person remains continuously as a member of the Board of Directors of the Issuer from the date of grant until each respective vesting date.
[F2]These Options were granted pursuant to a Non-Qualified Stock Option Agreement under the Issuer's 2008 Executive Incentive Plan; one eighth (2,500) of the underlying shares will vest equally on a quarterly basis over a two year-period beginning September 4, 2009, provided the reporting person remains continuously as a member of the Board of Directors of the Issuer from the date of grant until each respective vesting date.
[F3]On June 4, 2009, amendments to the Issuer's 2008 Executvie Inventive Plan and 2007 Stock Option and Incentive Plan were approved to premit the repricing of the stock options granted thereunder. Eligible stock options held by the reporting person have been repriced such that the exercise price of each option is the mean average of the high and low trading price of the Issuer's common stock on the OTC Bulletin Board on June 4, 2009, or $.45 per share.

Documents

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