CHINA JO-JO DRUGSTORES, INC. 4
4 · CHINA JO-JO DRUGSTORES, INC. · Filed Jul 7, 2014
Insider Transaction Report
Form 4
Liu Lei
DirectorPresident10% OwnerOther
Transactions
- Award
Common Stock
2014-07-02$1.52/sh+619,482$941,613→ 6,831,482 total
Footnotes (3)
- [F1]Represents shares granted to the Reporting Person to offset a debt of personal funds, in the amount of approximately $941,613, advanced by the Reporting Person to the Company over the past two (2) years to pay the Company's overseas service providers. The Company's audit committee and the board of directors approved the issuance of 619,482 shares of common stock to the Reporting Person. The shares bear a standard legend under the Securities Act of 1933, as amended.
- [F2]Based on the fair market value, being the closing stock price of the Company's common stock traded on NASDAQ on July 1, 2014.
- [F3]Includes (i) 160,000 shares granted as a restricted award under the Company's 2010 Equity Incentive Plan that, pursuant to the Restricted Stock Award Agreement between the Reporting Person and the Company dated as of December 31, 2013, vested immediately; (ii) 22,000 shares granted as a restricted stock award under the Company's 2010 Equity Incentive Plan that, pursuant to the Restricted Stock Award Agreement between the Reporting Person and the Company dated as of January 16, 2012, will vest on January 16, 2015; and (iii) 6,030,000 shares held by Super Marvel Limited, of which the Reporting Person is the executive director and a shareholder, and as such, is deemed to have or share voting and investment controls over such shares.