ROLLINS HARLEY L III 4

4 · ELANDIA INTERNATIONAL INC. · Filed Apr 1, 2011

Form 4

Period: 2011-03-31

SECRETARY AND CFO

Transactions

Other
Option to Purchase Common Stock
2011-03-31$0.45/sh−170,000$76,500→ 0 total
Exercise: $0.45From: 2008-12-03Exp: 2017-12-03→ Common Stock (170,000 underlying)
Other
Option to Purchase Common Stock
2011-03-31$0.45/sh−415,000$186,750→ 0 total
Exercise: $0.45From: 2010-06-04Exp: 2019-06-04→ Common Stock (415,000 underlying)
Other
COMMON STOCK
2011-03-31$0.50/sh+392,000$196,000→ 525,202 total
Other
Option to Purchase Common Stock
2011-03-31$0.45/sh+1,000,000$450,000→ 1,000,000 total
Exercise: $0.45From: 2014-03-31Exp: 2021-03-31→ Common Stock (1,000,000 underlying)
Other
Option to Purchase Common Stock
2011-03-31$0.45/sh−415,000$186,750→ 0 total
Exercise: $0.45From: 2009-09-02Exp: 2018-09-02→ Common Stock (415,000 underlying)

Holdings

Footnotes (3)

[F1]These shares were awarded to Mr. Rollins as compensation for his agreement to waive the change in control provision of his employment Agreement with the Issuer, and cancellation of all of his prior vested stock options.
[F2]These options were granted pursuant to an Employment Agreement between the Issuer and Mr. Rollins, dated March 31, 2011 ("Rollins Employment Agreement"); 25% of the options will vest on the three-year anniversary of the grant date and 75% will vest equally, on a quarterly basis, over a 12-month period commencing on the three-year anniversary grant date, so long as the reporting person is continuously employed by the Issuer from the date of the Rollins Employment Agreement until each respective vesting date.
[F3]Upon the granting of the options pursuant to the Rollins Employment Agreement, these options were cancelled.

Documents

1 file