4//SEC Filing
HAGER JANE E 4
Accession 0001192482-10-000085
CIK 0000352998other
Filed
Mar 31, 8:00 PM ET
Accepted
Apr 1, 9:28 AM ET
Size
8.6 KB
Accession
0001192482-10-000085
Insider Transaction Report
Form 4
IGI INCIG
HAGER JANE E
Director10% Owner
Transactions
- Purchase
Series C Convertible Preferred Stock
2010-03-29+50→ 50 total(indirect: By Trust)→ Common Stock
HAGER EDWARD B
10% Owner
Transactions
- Purchase
Series C Convertible Preferred Stock
2010-03-29+50→ 50 total(indirect: By Trust)→ Common Stock
Footnotes (3)
- [F1]Each share of Series C Convertible Preferred Stock (the "Series C Preferred Stock") is convertible into shares of common stock equal to (i) 1,000 plus any accrued and unpaid dividends, divided by (ii) $0.69 (the closing price of the Company's common stock on the date of issuance), and has no expiration date. Notwithstanding the foregoing, pursuant to the terms of the Certificate of Designation, the Series C Preferred Stock will automatically convert into shares of common stock upon the earlier of the date that (i) the closing price of the common stock shall have exceeded $2.07 for a period of twenty-five (25) consecutive trading days immediately preceding such date and (continued in Footnote 2)
- [F2](ii) as determined by the affirmative vote or consent of the holders of at least a majority of the shares of the Series C Preferred Stock outstanding at the time, given in person or by proxy, either in writing or at a meeting. Quarterly dividends at the annual rate of 5% of the Original Issue Price, or $1,000 per share, on each outstanding share of Series C Preferred Stock shall accrue from day to day, whether or not earned or declared, commencing on the last day of the calendar quarter in which they would otherwise be declared.
- [F3]Jane E. Hager is the settlor and trustee of the Jane E. Hager Trust of 1990 over which she holds voting and investment power and retains the power to revoke. Edward B. Hager, spouse of Jane E. Hager, is a beneficiary of such trust.
Documents
Issuer
IGI INC
CIK 0000352998
Entity typeother
Related Parties
1- filerCIK 0000938864
Filing Metadata
- Form type
- 4
- Filed
- Mar 31, 8:00 PM ET
- Accepted
- Apr 1, 9:28 AM ET
- Size
- 8.6 KB