REDDICK ANDREW D 4
4 · HALSEY DRUG CO INC/NEW · Filed Aug 13, 2004
Insider Transaction Report
Form 4
HALSEY DRUG CO INC/NEWHDGC.OB
REDDICK ANDREW D
DirectorPresident and CEO
Transactions
- Award
Employee Stock Options
2004-08-12+0→ 8,750,000 totalExercise: $0.13Exp: 2014-08-12→ Common Stock (8,750,000 underlying)
Footnotes (2)
- [F1]Option to purchase 8,750,000 shares of the Issuer's common stock, $.01 par value per share. In May 2004, the Issuer ammended the Reporting Person's Executive Employment Agreement, among other things, to adjust the Issuer's commitment to issue a stock option to the Reporting Person from 5,500,000 shares to 8,750,000 shares. The grant of such option was contingent upon receipt of shareholder approval to amend the Issuer's stock option plan under which the stock option would be issued. Shareholder approval of the amended stock option plan was obtained August 12, 2004.
- [F2]Option vests and is exercisable as follows: (i) 3,000,000 on the date of Grant; and (ii) 250,000 monthly thereafter commencing on August 31, 2004 until fully vested.