Flaum Asher Justin 4
4 · TORVEC INC · Filed Sep 26, 2011
Insider Transaction Report
Form 4
TORVEC INCTOVC
Flaum Asher Justin
Director
Transactions
- Purchase
Investment Units
2011-09-23$0.40/sh+250,000$100,000→ 250,000 totalExercise: $0.00From: 2011-09-23Exp: 2021-09-23→ Common Stock, $.01 par value (250,000 underlying)
Footnotes (1)
- [F1]Each investment unit consists of one (1) share of the company's Series C Voting Convertible Preferred Stock, par value $0.01 per share, initially convertible into an equivalent number of shares of common stock of the company, par value $0.01 per share, and a warrant to purchase one tenth (1/10) of a share of common stock exercisable immediately for ten years at an initial exercise price equal to the greater of (i) $0.01 or (ii) 80% of the volume weighted average sale price per share of the company's common stock during the ten consecutive trading days immediately preceding the notice of exercise.