XCel Brands, Inc. 4
4 · XCel Brands, Inc. · Filed Dec 24, 2014
Insider Transaction Report
Form 4
Malka Ben
Director
Transactions
- Award
Common Stock
2014-07-15+25,000→ 25,000 total - Award
Common Stock
2014-12-22$8.00/sh+1,000,000$8,000,000→ 1,000,000 total(indirect: See footnote)
Holdings
- 25,000
Common Stock
Footnotes (2)
- [F1]Represents shares of restricted stock awarded pursuant to a restricted stock award agreement, which vests 50% of the shares on each of March 31, 2015 and March 31, 2016, provide that Mr. Malka may extend the vesting date as to all or a portion of the shares, one or more times, in six-month increments, at his discretion.
- [F2]The reported Common Stock is held directly by The H Company IP, LLC ("H Company"), a wholly owned subsidiary of House of Halston, LLC ("Halston"). On December 22, 2014, the Issuer issued 1,000,000 shares of Common Stock to H Company as partial consideration for the closing of the acquisition of certain assets from H Company, which shares were valued at $8.00 per share pursuant to the terms of the Asset Purchase Agreement. Mr. Malka is the chief executive officer of Halston and a member of its three person Board of Managers, which is comprised of Mr. Malka and two members designated by Halston's controlling stockholder. To the extent Mr. Malka may deemed to have an indirect pecuniary interest in the reported shares of Common Stock as a result of his investment in Halston, Mr. Malka disclaims beneficial ownership except to the extent of his pecuniary interest therein.