LEBOVICS IRVING M 4
4 · NCT GROUP INC · Filed Sep 19, 2003
Insider Transaction Report
Form 4
NCT GROUP INCNCTI
LEBOVICS IRVING M
Senior VP, Global Sales
Transactions
- Purchase
Option to Acquire Common Stock
2003-09-10$0.05/sh+800,000$43,200→ 3,338,415 totalExercise: $0.05From: 2003-09-10Exp: 2010-09-10→ Common Stock (800,000 underlying)
Footnotes (2)
- [F1]Options vest upon the earlier occurrence of a third party acquisition of 10% or more of issuer or issuer's subsidiary, Artera Group, Inc., or as follows: 40% date of grant and 30% on first and second anniversaries. Reservation of shares by issuer for exercise of these options is effective only upon shareholder approval of a sufficient increase in (a) the issuer's authorized shares of common stock and (b) the authorized number of shares under the issuer's 2001 Stock and Incentive Plan.
- [F2]10,643,323 additional derivative securities are held by reporting person's spouse and are indirectly beneficially owned by reporting person.