SALON MEDIA GROUP INC 4

4 · SALON MEDIA GROUP INC · Filed Dec 8, 2008

Form 4

Period: 2008-12-04

Director

Transactions

Disposition to Issuer
Option to purchase
2008-12-04−2,000→ 0 total
Exercise: $2.80Exp: 2011-10-24→ Common Stock (2,000 underlying)
Award
Option to purchase
2008-12-04+2,000→ 2,000 total
Exercise: $0.35Exp: 2011-10-24→ Common Stock (2,000 underlying)
Award
Option to purchase
2008-12-04+25,000→ 25,000 total
Exercise: $0.35Exp: 2015-02-07→ Common Stock (25,000 underlying)
Disposition to Issuer
Option to purchase
2008-12-04−3,500→ 0 total
Exercise: $1.05Exp: 2016-12-07→ Common Stock (3,500 underlying)
Disposition to Issuer
Option to purchase
2008-12-04−25,000→ 0 total
Exercise: $2.80Exp: 2015-02-07→ Common Stock (25,000 underlying)
Award
Option to purchase
2008-12-04+10,000→ 10,000 total
Exercise: $0.35Exp: 2018-12-04→ Common Stock (10,000 underlying)
Award
Option to purchase
2008-12-04+3,500→ 3,500 total
Exercise: $0.35Exp: 2016-12-07→ Common Stock (3,500 underlying)

Footnotes (6)

[F1]Option to purchase granted pursuant to Salon Media Group, Inc. 2004 Stock Plan.
[F2]The option is exercisable to the extent the shares are vested. 25% of the shares vest after one year, and 2.0833% vest monthly thereafter, provided that the reporting person continues to be employed or otherwise retained by the Issuer.
[F3]The reporting person agreed to cancellation of an option granted to him on December 7, 2006, in exchange for a new option having a lower exercise price.
[F4]The option is fully vested.
[F5]The reporting person agreed to cancellation of an option granted to him on February 7, 2005, in exchange for a new option having a lower exercise price.
[F6]The reporting person agreed to cancellation of an option granted to him on October 24, 2001, in exchange for a new option having a lower exercise price.

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