4//SEC Filing
Mullins John 4
Accession 0001209191-11-062627
CIK 0000922237other
Filed
Dec 20, 7:00 PM ET
Accepted
Dec 21, 6:59 PM ET
Size
6.8 KB
Accession
0001209191-11-062627
Insider Transaction Report
Form 4
Mullins John
Chief Operating Officer
Transactions
- Sale
Stock option (right to buy)
2011-12-19+200,000→ 380,000 totalExercise: $0.19From: 2012-03-31Exp: 2014-12-19→ Common stock (200,000 underlying)
Footnotes (2)
- [F1]The exercise price of the options will be the greater of: a) the effective share value of the Company's stock determined on a five-day Volume-Weighted Average Closing Price ("VWAP") as traded on the NYSE Amex for such five day trading period after a capital raising has been completed by the Company; or b) the fair market value of the common shares of the Company determined in accordance with the Plan based on the last reported sale price as traded on the NYSE Amex as of the date of grant.
- [F2]The options will only vest in the event that: a) the Company is sold during the Term for a price that results in proceeds to the Company's shareholders for each outstanding share of Common Stock equal to or greater in value than at least twice the exercise price; or b) during any ten (10) day trading period during the Term when the Company's common shares have a VWAP for such ten (10) day trading period equal to or greater than twice the exercise price based on the average of the closing bid and asked prices of the Company's Common Stock if quoted in the Over-The-Counter or similar market or the last reported sale price of the Common Stock or the closing price quoted on the NYSE Amex or any other U.S. exchange on which the Common Stock is then listed, whichever is applicable, as published in the Western Edition of The Wall Street Journal (or such other reference reasonably relied upon by the Company if not so published).
Documents
Issuer
ENOVA SYSTEMS INC
CIK 0000922237
Entity typeother
Related Parties
1- filerCIK 0001475250
Filing Metadata
- Form type
- 4
- Filed
- Dec 20, 7:00 PM ET
- Accepted
- Dec 21, 6:59 PM ET
- Size
- 6.8 KB