OOLIE SAMUEL A 4/A
4/A · NCT GROUP INC · Filed Sep 26, 2003
Insider Transaction Report
Form 4/AAmended
NCT GROUP INCNCTI
OOLIE SAMUEL A
Director
Transactions
- Purchase
Option to acquire Common Stock
2003-09-10$0.05/sh+1,350,000$72,900→ 4,807,012 totalExercise: $0.05From: 2003-09-10Exp: 2010-09-10→ Common Stock (1,350,000 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]This amendment corrects the number of cumulative derivative securities previously recorded.