Snap Interactive, Inc 4
4 · Snap Interactive, Inc · Filed Nov 17, 2016
Insider Transaction Report
Form 4
Krandel Judy
Director
Transactions
- Award
Stock Option (Right to Buy)
2016-11-15+5,000,000→ 5,000,000 totalExercise: $0.13From: 2017-05-15Exp: 2026-11-14→ Common Stock (5,000,000 underlying)
Footnotes (2)
- [F1]The stock option was granted pursuant to a stock option agreement dated November 15, 2016 (the "Option Agreement"). The shares underlying this stock option will vest and become exercisable in four (4) equal installments, with the first tranche vesting on the earlier of (i) the six (6) month anniversary of the date of grant or (ii) the termination of the reporting person's employment without cause, and the remaining three tranches vesting on one (1) year intervals thereafter as long as the reporting person is providing services to the issuer on such date.
- [F2]However, upon the effective date of a "change in control" (as defined in the Snap Interactive, Inc. 2016 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 and second anniversaries of the date of the change in control in equal installments, in each case subject to the terms and conditions of the Option Agreement.