4//SEC Filing
PARRELLA MICHAEL J 4
Accession 0001263776-03-000001
CIK 0000722051other
Filed
Sep 18, 8:00 PM ET
Accepted
Sep 19, 3:37 PM ET
Size
6.4 KB
Accession
0001263776-03-000001
Insider Transaction Report
Form 4
NCT GROUP INCNCTI
PARRELLA MICHAEL J
DirectorChairman & CEO
Transactions
- Purchase
Option to Acquire Common Stock
2003-09-10$0.05/sh+9,260,000$500,040→ 51,686,634 totalExercise: $0.05From: 2003-09-10Exp: 2010-09-10→ Common Stock (9,260,000 underlying)
Footnotes (2)
- [F1]As to 50%, date of grant; as to remaining 50%, immediately prior to the closing of any one of the following: 1. Third party acquires the right to a 10% equity interest in the issuer; 2. Third party acquires the right to a 10% equity interest in Artera Group, Inc. (currently a subsidiary of the issuer); or 3. Third party licenses the issuer's or a subsidiary's intellectual property or commits to distribute the issuer's or a subsidiary's products for $15 million in aggregate license fees or minimum royalties. In any event, all options vest three years from date of grant. 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]3,758,400 additional derivative securities are held by reporting person's sons and are indirectly beneficially owned by reporting person.
Documents
Issuer
NCT GROUP INC
CIK 0000722051
Entity typeother
Related Parties
1- filerCIK 0001263776
Filing Metadata
- Form type
- 4
- Filed
- Sep 18, 8:00 PM ET
- Accepted
- Sep 19, 3:37 PM ET
- Size
- 6.4 KB