HUI GODFREY CHIN TONG 4
4 · NETWORK CN INC · Filed Aug 11, 2009
Insider Transaction Report
Form 4
NETWORK CN INCNWCN.OB
HUI GODFREY CHIN TONG
DirectorDeputy Chief Executive Officer
Transactions
- Other
Common Stock $0.001 par value
2009-07-15−1,500,000→ 1,140,000 total - Award
Common Stock $0.001 par value
2008-07-01+15,000→ 2,640,000 total - Award
Common Stock $0.001 par value
2009-07-15−10,000,000→ 11,140,000 total
Footnotes (3)
- [F1]On July 1, 2008, the reporting person received an award of 15,000 shares of the Issuer's common stock, as consideration for services rendered as a director and chairman of the Board, between July 1, 2008 and June 30, 2009. The shares will vest on June 30, 2009, so long as the reporting person continues in his role as a director and chairman of the Board on June 30, 2009.
- [F2]Pursuant to an executive employment agreement, dated July 23, 2007, the reporting person was awarded 2,000,000 shares of the Issuer's common stock, to vest annually over a five-year period, with 200,000 shares, 300,000 shares, 400,000 shares, 500,000 shares and 600,000 shares vesting on December 31, 2007, 2008, 2009, 2010 and 2011 respectively. On July 15, 2009, the reporting person entered into a new executive agreement with the Issuer and the executive employment agreement dated July 23, 2007 was terminated. As such, the reporting person no longer has the right to receive an aggregate of 1,500,000 shares which were scheduled to vest on December 31, 2009, 2010 and 2011 pursuant to executive employment agreement dated July 23, 2007.
- [F3]On July 15, 2009, the reporting person received an award of 10,000,000 shares of the Issuer's common stock as a consideration for service rendered as a Deputy Chief Executive Officer during his first two years commencing on July 1, 2009.