4//SEC Filing
PIZARRO PEDRO R 4
Accession 0001181431-11-049055
CIK 0001352819other
Filed
Sep 12, 8:00 PM ET
Accepted
Sep 13, 3:53 PM ET
Size
11.1 KB
Accession
0001181431-11-049055
Insider Transaction Report
Form 4
ELANDIA INTERNATIONAL INC.ELAN.OB
PIZARRO PEDRO R
DirectorChairman, CEO and President
Transactions
- Other
Option to Purchase Common Stock
2011-09-09$0.45/sh+30,000$13,500→ 30,000 totalExercise: $0.45From: 2011-12-09Exp: 2021-09-09→ Common Stock (30,000 underlying) - Other
Option to Purchase Common Stock
2011-08-01$0.45/sh−4,200,000$1,890,000→ 0 totalExercise: $0.45From: 2014-03-31Exp: 2021-03-31→ Common Stock (4,200,000 underlying)
Holdings
- 750,000(indirect: By Trust)
Common Stock
- 1,139,500
Common Stock
- 8,853(indirect: By: Pizarro Investment Holdings, LP)
Common Stock
Footnotes (3)
- [F1]1,120,000 of these shares were awarded to Mr. Pizarro 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; the remaining 19,500 shares were purchased by Mr. Pizarro in the open market.
- [F2]These options were granted pursuant to the Employment Agreement between the Issuer and Mr. Pizarro, dated March 31, 2011 ("Pizarro Employment Agreement"); 25% of the options were to vest on the three-year anniversary of the grant date and 75% were to vest vest equally, on a quarterly basis, over a 12-month period commencing on the three-year anniversary of the grant date, so long as the reporting person is continuously employed by the Issuer from the date of the Pizarro Employment Agreement until each respective vesting date. Mr. Pizarro resigned as Chief Executive Officer of the Issuer effective August 1, 2011, prior to the vesting date of these options, so the options were cancelled.
- [F3]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 December 9, 2011, 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.
Documents
Issuer
ELANDIA INTERNATIONAL INC.
CIK 0001352819
Entity typeother
Related Parties
1- filerCIK 0001428078
Filing Metadata
- Form type
- 4
- Filed
- Sep 12, 8:00 PM ET
- Accepted
- Sep 13, 3:53 PM ET
- Size
- 11.1 KB