4//SEC Filing
Snap Interactive, Inc 4
Accession 0001213900-16-011383
$IPMCIK 0001355839operating
Filed
Mar 6, 7:00 PM ET
Accepted
Mar 7, 4:28 PM ET
Size
11.0 KB
Accession
0001213900-16-011383
Insider Transaction Report
Form 4
Lerner Clifford
DirectorPresident, CEO, CFO and CAO10% Owner
Transactions
- Award
Common Stock
2016-03-03+5,000,000→ 30,250,000 total - Disposition to Issuer
Common Stock
2016-03-03−5,000,000→ 25,250,000 total - Award
Stock Option (Right to Buy)
2016-03-03+50,000→ 50,000 totalExercise: $0.20From: 2017-03-03Exp: 2026-03-03→ Common Stock (50,000 underlying)
Footnotes (3)
- [F1]Represents the cancellation of an award of 5,000,000 restricted shares of common stock on March 3, 2016 pursuant to a cancellation agreement. The cancelled restricted shares of common stock were awarded to the reporting person on April 10, 2013 pursuant to a restricted stock award agreement (the "Original Award Agreement"). Under the Original Award Agreement, such restricted shares of common stock would have vested 50% on the third anniversary of the date of grant and 50% on the fourth anniversary of the date of grant; provided, that any unvested shares of restricted stock would have vested immediately upon the effective date of a "change in control" (as defined in the Amended and Restated Snap Interactive, Inc. 2011 Long-Term Incentive Plan), subject to the terms and conditions of the Original Award Agreement. The reporting person received a new restricted stock award for 5,000,000 shares of restricted common stock as consideration for the cancellation described herein.
- [F2]Represents restricted shares of common stock awarded to the reporting person on March 3, 2016 pursuant to a restricted stock award agreement (the "Replacement Award Agreement"). Such restricted shares will vest 100% on the tenth anniversary of the date of grant as long as the reporting person is providing services to the Company on such date; provided, that any unvested shares of restricted stock will vest immediately upon the effective date of a "change in control" (as defined in the Amended and Restated Snap Interactive, Inc. 2011 Long-Term Incentive Plan), subject to the terms and conditions of the Replacement Award Agreement.
- [F3]The stock option was granted pursuant to a stock option agreement dated March 3, 2016 (the "Option Agreement"). The shares underlying this stock option will vest and become exercisable in four equal annual installments on the first, second, third and fourth anniversaries of the date of grant as long as the reporting person is providing services to Snap Interactive, Inc. on such date; provided, that upon the effective date of a "change in control" (as defined in the Amended and Restated Snap Interactive, Inc. 2011 Long-Term Incentive Plan), 50% of the then-unvested shares immediately will vest on the date of the change in control and the remaining 50% of the then-unvested shares will vest on the earlier of (i) the original date such shares would have vested or (ii) the first anniversary of the date of the change in control, in each case subject to the terms and conditions of the Option Agreement.
Documents
Issuer
Snap Interactive, Inc
CIK 0001355839
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001355839
Filing Metadata
- Form type
- 4
- Filed
- Mar 6, 7:00 PM ET
- Accepted
- Mar 7, 4:28 PM ET
- Size
- 11.0 KB