Ault Kristine L 4
4 · DIGITAL POWER CORP · Filed Dec 21, 2017
Insider Transaction Report
Form 4
Ault Kristine L
Director
Transactions
- Award
Options
2017-11-28+100,000→ 100,000 totalExercise: $1.38Exp: 2027-11-27→ Common Stock (100,000 underlying)
Holdings
- 2,725,860(indirect: By LLC)
Common Stock
- 2,850
Common Stock
- 100,000(indirect: See Footnote)
Series B Convertible Preferred Stock
Exercise: $0.70→ Common Stock (1,428,571 underlying)
Footnotes (3)
- [F1]On November 28, 2017, the Board of Directors of the Issuer approved the issuance of stock options to its directors and officers. Ms. Ault was granted options to purchase 100,000 shares of common stock which shall vest in monthly 1/48th increments over four years and are subject to shareholder approval.
- [F2]The shares of Series B Convertible Preferred Stock (the "Shares") are convertible upon the earlier to occur of (i) 60 months from March 24, 2017, or (ii) upon the filing by the Issuer of one or more periodic reports that, singly or collectively, evidence(s) that the Issuer's gross revenues have reached no less than $10,000,000 in the aggregate, on a consolidated reporting basis, over four consecutive quarters in accordance with U.S. GAAP. There is no expiration date applicable to the conversion of the Shares.
- [F3]These shares are owned by Philou Ventures, LLC, of which the Reporting Person is the Manager.