SHAH KRIS 4

4 · SSP SOLUTIONS INC · Filed Oct 23, 2003

Form 4

Period: 2003-10-21

DirectorCo-Chair, Pres. COO & Sec.10% Owner

Transactions

Award
Common Stock Purchase Warrant (right to buy)
2003-10-21+15,000→ 15,000 total
Exercise: $0.50Exp: 2008-03-27→ Common Stock (15,000 underlying)
Tax Payment
Common Stock, $0.01 par value
2003-10-21$0.95/sh−7,895$7,500→ 4,898,940 total
Exercise/Conversion
Common Stock Purchase Warrant (right to buy)
2003-10-21−15,000→ 0 total
Exercise: $0.50Exp: 2008-03-27→ Common Stock (15,000 underlying)
Exercise/Conversion
Common Stock, $0.01 par value
2003-10-21$0.50/sh+15,000$7,500→ 4,906,835 total

Footnotes (5)

[F1]This report is filed jointly by the Kris and Geraldine Shah Family Trust and Kris Shah. Mr. Shah and his wife are the trustees and beneficiaries of the Kris and Geraldine Shah Family Trust. Mr. Shah is a director and Co-Chairman, President, Chief Operating Officer and Secretary of the issuer. Mr. Shah and the Kris and Geraldine Shah Family Trust each are ten percent owners of the issuer.
[F2]These shares are owned directly by the Kris and Geraldine Shah Family Trust and indirectly by Mr. Shah.
[F3]In addition to the 4,898,940 shars reported in column 5, 435,301 shares are owned directly by the Chandra L. Shah Trust and 435,301 shares are owned directly by the Leena Shah Trust. Mr. Shah owns these additional shares indirectly as trustee of those two trusts but disclaims beneficial ownership of these additional 870,602 shares.
[F4]The warrant was to be immediately exercisable. However, the warrant exercise price was not set until October 21, 2003.
[F5]The warrant was issued to the Kris and Geraldine Shah Family Trust on March 28, 2003, with an exercise price to be determined. On October 21, 2003, the exercise price was set on terms identical to those established for other, unaffiliated warrant holders (i.e., at $0.50 in consideration for a waiver of certain penalties and the immediate exercise of the warrant on a cashless basis).

Documents

2 files