4//SEC Filing
HILZ MARK T 4
Accession 0001213900-25-124720
CIK 0001468492other
Filed
Dec 21, 7:00 PM ET
Accepted
Dec 22, 6:39 PM ET
Size
8.2 KB
Accession
0001213900-25-124720
Insider Transaction Report
Form 4
HILZ MARK T
DirectorSee Remarks
Transactions
- Award
Restricted Stock Units
2025-12-22+45,000→ 45,000 total→ Common Stock (45,000 underlying)
Footnotes (4)
- [F1]Represents Restricted Stock Units (the "RSUs") granted to the Reporting Person under the Issuer's 2023 Equity Incentive Plan (as amended, the "Plan") pursuant to the approval of the Issuer's board of directors. Each vested RSU shall be settled by delivery to the Reporting Person of one share of the Issuer's common stock, $0.001 par value per share, upon satisfaction of the Conditions (as defined below).
- [F2]The RSUs shall vest subject to the satisfaction of all of the following conditions (the "Conditions"): (i) approval by the Issuer's shareholders of any amendment or modification to or restatement of the Plan, which, among other things, contemplates the award of the RSUs, and (ii)(x) 1/3rd of the RSUs shall vest on the one-year anniversary of the grant date (the "Initial Vesting Date") and (y) thereafter, 1/12th of the RSUs shall vest on each subsequent quarterly anniversary of the Initial Vesting Date (each an "Additional Initial Vesting Date" and together with the Initial Vesting Date, the "Vesting Dates"), such that all of the RSUs shall fully vest on the three-year anniversary of the grant date, (continued to footnote 3)
- [F3]in each case provided that the Reporting Person is continuously employed by and is in good standing with the Issuer and the Reporting Person's employment agreement with the Issuer (the "Employment Agreement") is in effect, through each applicable Vesting Date (except as otherwise provided below).
- [F4]Notwithstanding the foregoing or anything to the contrary in the Employment Agreement, the Reporting Person shall not be required to be employed or perform any services to the Issuer under the Employment Agreement as of any applicable Vesting Date if the Reporting Person is terminated or otherwise let go by the Issuer for any reason or no reason other than Just Cause (as defined in the Employment Agreement) (for the avoidance of doubt, if the Reporting Person resigns or otherwise voluntarily departs, such resignation or voluntary termination shall not be deemed to satisfy this requirement with respect to the applicable Vesting Date). 100% of the RSUs shall vest (i) in the event of a Change of Control (as defined in the Employment Agreement) or (ii) if the Issuer achieves $250,000 or more of revenue in any fiscal quarter ending after the date hereof.
Documents
Issuer
HeartSciences Inc.
CIK 0001468492
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001016157
Filing Metadata
- Form type
- 4
- Filed
- Dec 21, 7:00 PM ET
- Accepted
- Dec 22, 6:39 PM ET
- Size
- 8.2 KB