Hudson Randolph S 4
4 · Residential Income Properties, Inc. · Filed May 27, 2009
Insider Transaction Report
Form 4
Hudson Randolph S
DirectorCOB, Pres.,CEO,Treas.,Act. CFO10% Owner
Transactions
- Gift
Common Stock, $0.0001 par value per share
2009-05-27−750,000→ 7,294,900 total
Footnotes (2)
- [F1]The Reporting Person transferred 750,000.0000 shares of the common stock he owns in the Issuer to Charles R. Faul. (The transferee's CIK is 0001464823.) The Reporting Person deems the transfer to constitute a bona fide gift pursuant to 17 CFR 240.16(b)(5) of the Securities Exchange Act of 1934 exempt from the operation of section 16(b) of the Exchange Act.
- [F2]The Reporting Person deems the transaction reported herein as a bona fide gift exempt from Section 16(b) of the Securities Exchange Act of 1934. Consequently, the Reporting Person did not receive any consideration for his shares in the Issuer. For U. S. Internal Revenue Service taxation purposes, the Reporting Person deems the value of the gifted securities to be at par, or $75 in the aggregate.