Van Ness Kenneth 4
4 · CYTODYN INC · Filed Apr 18, 2012
Insider Transaction Report
Form 4
CYTODYN INCCYDY
Van Ness Kenneth
Director
Transactions
- Award
Options (right to acquire)
2012-04-16+1,500,000→ 1,500,000 totalExercise: $2.00Exp: 2016-08-08→ Common (1,500,000 underlying) - Other
Common Stock
2011-04-20−728,000→ 0 total(indirect: By LLC)
Holdings
- 1,929,041(indirect: By LLC)
Common Stock
Footnotes (2)
- [F1]These securities are owned directly by Technology Capital Services, LLC ("TCS") and were previously reported as being indirectly owned by the reporting person. The reporting person previously disclaimed beneficial ownership of the reported securities except to the extent of his pecuniary interest of $98.985. On April 20, 2011, the reporting person resigned as manager of TCS, and as a result, the reporting person is no longer a controlling shareholder of TCS and does not have or share investment control over the shares of the issuer's common stock held by TCS. Therefore, pursuant to Rule 16a-1(a)(2)(iii), the reporting person no longer has a pecuniary interest in the securities held by TCS.
- [F2]The options vest as follows: 375,000 on August 8, 2012; 375,000 on August 8, 2013; with the remaining in equal installments of 93,750 in each case on November 8, 2013, February 8, 2014, May 8, 2014, August 8, 2014, November 8, 2014, February 8, 2015, May 8, 2015, and August 8, 2015.