4//SEC Filing
NEW HORIZONS WORLDWIDE INC 4
Accession 0001209191-06-040663
CIK 0000850414operating
Filed
Jul 6, 8:00 PM ET
Accepted
Jul 7, 6:24 PM ET
Size
13.7 KB
Accession
0001209191-06-040663
Insider Transaction Report
Form 4
MILLER MARK A
DirectorChief Executive Officer
Transactions
- Award
Common Stock (Right to Buy)
2006-07-05+0→ 526,000 total→ Common Stock - Award
Common Stock, $.01 Par Value
2006-07-05+350,000→ 350,000 total - Award
Common Stock (Right to Buy)
2006-07-05+263,000→ 263,000 totalExercise: $1.50Exp: 2016-07-05→ Common Stock (263,000 underlying)
Footnotes (4)
- [F1]In connection with his entering into employment with the Company, 350,000 shares of restricted stock were granted to the Reporting Person. Pursuant to the terms of an agreement between the Reporting Person and the Issuer, the number of restricted shares that were granted to the Reporting Person on July 5, 2006 are subject to downward adjustment under certain circumstances.
- [F2]Pursuant to the terms of an agreement between the Reporting Person and the Issuer, the number of stock options granted to the Reporting Person on July 5, 2006 are subject to downward adjustment under certain circumstances.
- [F3]The options were granted upon approval of the Board of Directors in a transaction exempt under Rule 16b-3. The option is exercisable in three equal annual installments. The first installment becomes exercisable on July 5, 2007, and the second and third installments become exercisable on July 5, 2008, and July 5, 2009, respectively.
- [F4]As provided in the employment agreement entered into between the Reporting Person and the Issuer on July 5, 2006, the Reporting Person is entitled to purchase from the Issuer $100,000 of common stock, at a price per share equal to the average closing price on the "Pink Sheets" for the twenty (20) trading days following the public disclosure on Form 8-K of the employment agreement, which purchase right shall be exercisable and shall terminate in accordance with the terms of the employment agreement. Therefore, neither the number of derivative securities, nor the number of underlying securities, can be determined until the exercise price has been established.
Documents
Issuer
NEW HORIZONS WORLDWIDE INC
CIK 0000850414
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000850414
Filing Metadata
- Form type
- 4
- Filed
- Jul 6, 8:00 PM ET
- Accepted
- Jul 7, 6:24 PM ET
- Size
- 13.7 KB