SUTARIA PERRY 4
4 · INTERPHARM HOLDINGS INC · Filed Jul 13, 2006
Insider Transaction Report
Form 4
SUTARIA PERRY
10% Owner
Transactions
- Conversion
Common Stock
2006-05-25+6,274,780→ 2,019,166 total - Conversion
Series K Convertible Preferred Stock
2006-05-25−292,214→ 0 total→ Common Stock
Holdings
- 8,014,928(indirect: By LLC)
Common Stock
Footnotes (2)
- [F1]On May 25, 2006, P&K Holdings I, LLC, a New York limited liability company of which Perry Sutaria is the sole manager and sole member, converted an aggregate of 292,214 shares of Series K Convertible Preferred Stock of Interpharm Holdings, Inc. ("Series K Stock") into an aggregate of 6,274,780 shares of common stock of Interpharm Holdings, Inc. ("Common Stock"), a ratio of approximately 21.47 shares of Common Stock for each share of Series K Stock converted.
- [F2]On June 4, 2004, all conditions for the conversion of the Series K Stock were met, making that date the "Trigger Date" as defined in the Certificate of Designations of the Series K Stock. After the Trigger Date the Series K Stock was to convert ratably, over a seven-year period. One-seventh of the outstanding shares of Series K Stock converted into common stock on each of June 4, 2004 and June 4, 2005, at a conversion ratio of approximately 21.47 shares of Common Stock issued for each share of Series K Stock converted. On May 25, 2006 P&K Holdings I, LLC and Interpharm Holdings, Inc. agreed that all of the outstanding shares of Series K Stock then outstanding would immediately convert into Common Stock at the same ratio.