4//SEC Filing
SUMMIT FINANCIAL SERVICES GROUP INC 4
Accession 0001181431-10-003502
CIK 0001261436operating
Filed
Jan 18, 7:00 PM ET
Accepted
Jan 19, 4:58 PM ET
Size
11.1 KB
Accession
0001181431-10-003502
Insider Transaction Report
Form 4
LEEDS MARSHALL T
DirectorChief Executive Officer10% Owner
Transactions
- Award
Stock Option (right to buy)
2010-01-14+2,800,000→ 2,800,000 totalExercise: $0.50From: 2010-01-14Exp: 2019-12-31→ Common Stock (2,800,000 underlying) - Other
Stock Option (right to buy)
2010-01-14−5,600,000→ 0 totalExercise: $0.25Exp: 2012-03-22→ Common Stock (5,600,000 underlying) - Award
Deferred Stock
2010-01-14+2,800,000→ 2,800,000 total→ Common Stock (2,800,000 underlying)
Footnotes (4)
- [F1]Represents options that were cancelled, in consideration, in part, for the issuance of options and deferred stock, as reported above. The options vested immediately upon issuance, in part, for services rendered by the reporting person as an officer and director of the Issuer.
- [F2]Issued subject to shareholder approval of amendments to the Issuer's 2006 Incentive Compensation Plan (the "Plan"), to increase, among other things, the number of shares of Common Stock underlying the Plan. The options and the Deferred Stock were issued in consideration, in part, for the cancellation of the options described in note (1) above.
- [F3]The options are immediately exercisable upon shareholder approval of the amendments to the Plan, as described above.
- [F4]The Deferred Stock represents a contingent right to receive an equal number of shares of Common Stock. The Deferred Stock will vest ratably over a period of seven years. The Shares of Common Stock will be delivered to the reporting person upon the earlier to occur of: (i) December 31, 2019; (ii) change in control of the Issuer; or (iii) under certain circumstances, the reporting person's termination of employment with the Issuer.
Documents
Issuer
SUMMIT FINANCIAL SERVICES GROUP INC
CIK 0001261436
Entity typeoperating
IncorporatedFL
Related Parties
1- filerCIK 0001261436
Filing Metadata
- Form type
- 4
- Filed
- Jan 18, 7:00 PM ET
- Accepted
- Jan 19, 4:58 PM ET
- Size
- 11.1 KB