4//SEC Filing
HILTWEIN MARK S 4
Accession 0001193805-18-000324
CIK 0001294250other
Filed
Feb 28, 7:00 PM ET
Accepted
Mar 1, 4:11 PM ET
Size
9.6 KB
Accession
0001193805-18-000324
Insider Transaction Report
Form 4
Transactions
- Other
Employee Stock Option (Right to Buy)
2018-03-01−35,000→ 0 totalExercise: $2.19From: 2016-10-27Exp: 2025-10-27→ Common Stock (35,000 underlying) - Other
Employee Stock Option (Right to Buy)
2018-03-01−65,000→ 0 totalExercise: $2.19Exp: 2025-10-27→ Common Stock (65,000 underlying)
Footnotes (3)
- [F1]Pursuant to the Issuer's Joint Prepackaged Plan of Reorganization Pursuant to Chapter 11 of the Bankruptcy Code, which was confirmed by the United States Bankruptcy Court for the District of Delaware on February 28, 2018 and became effective on March 1, 2018, each share of the Issuer's common stock and options to purchase the Issuer's common stock outstanding prior to the Issuer's emergence from bankruptcy were cancelled for no value. Additionally, in connection with the Issuer's emergence from bankruptcy, the reporting person resigned all positions with the Issuer effective on March 1, 2018. As a result, the reporting person is no longer subject to Section 16 in connection with his transactions in the equity securities of Rand Logistics, Inc. and therefore will no longer report any such transactions on Form 4 or Form 5.
- [F2]On October 27, 2015, the Reporting Person was granted the option to purchase 35,000 shares of common stock. The Options were issued pursuant to the Issuer's 2007 Long-Term Incentive Plan and vest yearly in three equal installments beginning on October 27, 2016.
- [F3]The options were issued pursuant to the Issuer's 2007 Long-Term Incentive Plan. The first 20% of the options become exercisable if the average closing price of Rand Logistics common stock over any 20 day period as reported on the Nasdaq Capital Markets is $4.00 per share on or before three years from the Grant Date. The next 25% of the options become exercisable if the average closing price of Rand Logistics common stock over any 20 day period as reported on the Nasdaq Capital Markets is $4.50 per share on or before three years from the Grant Date. The last 55% of the options become exercisable if the average closing price of Rand Logistics common stock over any 20 day period as reported on the Nasdaq Capital Markets is $5.00 per share on or before three years from the Grant Date.
Documents
Issuer
Rand Logistics, Inc.
CIK 0001294250
Entity typeother
IncorporatedOntario, Canada
Related Parties
1- filerCIK 0001164468
Filing Metadata
- Form type
- 4
- Filed
- Feb 28, 7:00 PM ET
- Accepted
- Mar 1, 4:11 PM ET
- Size
- 9.6 KB