Kinsey E Wayne 4
4 · INTEGRATED ENVIRONMENTAL TECHNOLOGIES, LTD. · Filed Mar 29, 2012
Insider Transaction Report
Form 4
Kinsey E Wayne
Director
Transactions
- Other
Common Stock, par value $.001 per share
2011-01-21−35,000,000→ 0 total(indirect: By Benchmark Performance Group) - Other
Common Stock, par value $.001 per share
2011-01-21+35,000,000→ 35,017,500 total - Purchase
8% Convertible Secured Promissory Note
2011-07-07$150000.00/shExercise: $0.10Exp: 2014-07-07→ Common Stock, $.001 par value - Purchase
8% Convertible Secured Promissory Note
2011-09-23$400000.00/shExercise: $0.10Exp: 2014-05-23→ Common Stock, $.001 par value - Purchase
Option (Right to Buy)
2012-03-27+154,820→ 154,820 totalExercise: $0.10Exp: 2007-03-21→ Common Stock, $.001 par value (154,820 underlying)
Footnotes (4)
- [F1]On January 21, 2011, Benchmark Performance Group, Inc. ("Benchmark") distributed 35,000,000 shares of Integrated Environmental Technologies, Ltd.'s ("IET") common stock to Mr. Kinsey. Mr. Kinsey is the former President and Chief Executive Officer of Benchmark. As a result of this distribution, Benchmark did not hold any shares of IET common stock.
- [F2]The entire principal amount ($150,000) of the 8% Convertible Secured Promissory Note (the "$150,000 Note") is convertible into shares of common stock at a conversion price of $.10 per share, subject to adjustment. Interest accrued under the $150,000 Note is payable in annual installments beginning July 7, 2012 and may be paid in cash or in shares of common stock. In the event that interest is paid in shares of common stock, the conversion price shall be the Market Price of the common stock as defined in the $150,000 Note.
- [F3]The entire principal amount ($400,000) of the 8% Convertible Secured Promissory Note (the "$400,000 Note") is convertible into shares of common stock at a conversion price of $.10 per share, subject to adjustment. Interest accrued under the $400,000 Note may be paid in cash or in shares of common stock (i) at the option of IET prior to the first anniversary of the issuance of the $400,000 Note, and (ii) at the option of Mr. Kinsey thereafter. In the event that interest is paid in shares of common stock, the conversion price shall be the Market Price of the common stock as defined in the $400,000 Note.
- [F4]77,410 shares of common stock vest on each of December 31, 2012 and 2013.