MacDonald J. Colin 4
4 · Marine Drive Mobile Corp. · Filed Sep 13, 2011
Insider Transaction Report
Form 4
MacDonald J. Colin
President10% Owner
Transactions
- Other
Common Stock
2011-09-12+5,000,000→ 5,000,000 total - Award
Employee Stock Option (Right to Buy)
2011-09-12+2,000,000→ 2,000,000 totalExercise: $0.25Exp: 2021-09-12→ Common Stock (2,000,000 underlying)
Footnotes (2)
- [F1]Received in exchange for shares of common stock of Marine Drive Technologies Inc., a corporation organized under the laws of the Province of British Columbia, Canada ("Marine Drive Technologies"), in connection with the acquisition of Marine Drive Technologies' outstanding shares by the Issuer through a voluntary share exchange with the sole shareholder of Marine Drive Technologies (the "Selling Shareholder"), pursuant to a Share Exchange Agreement, by and among the Issuer, on the one hand, and Marine Drive Technologies and the Selling Shareholder, on the other hand.
- [F2]The option shall vest with respect to 250,000 shares on the twelve month anniversary of the date of grant, and with respect to an additional 1/7th of the remaining shares subject to the option, when the reporting person completes each additional three-month period of continuous service thereafter, such that all of the shares shall completely vest thirty-three (33) months from the date of grant.