Galvin Robert 5
5 · Flex Fuels Energy, Inc. · Filed Feb 14, 2011
Insider Transaction Report
Form 5
Galvin Robert
Chief Financial Officer
Transactions
- Award
Warrants
2009-10-22+2,000,000→ 2,000,000 totalExercise: $0.07→ Common Stock
Footnotes (1)
- [F1]The 2,000,000 warrants, 750,000 of which are vested (250,000 vested on each of October 22, 2009; December 31, 2009; and December 31, 2010), are exercisable for the purchase of one share of Issuer's common stock for a period of seven years from the date of vesting at an exercise price of $0.07 per share. The warrants contain cashless exercise and piggyback registration provisions and are subject to adjustment in the event of stock splits, recapitalizations or reclassifications of our common stock. Of the 1,250,000 unvested warrants: 250,000 vest on December 31, 2011, 500,000 vest when and if the Issuer's common stock achieves an average closing price of at least $0.45 per share over a period of 20 consecutive trading days on or prior to October 21, 2012 and 500,000 vest when and if the stock achieves an average closing price of at least $1.00 per share over a period of 20 consecutive trading days on or prior to October 21, 2012.