Heimark Craig Foster 4
4 · AVISTAR COMMUNICATIONS CORP · Filed May 26, 2009
Insider Transaction Report
Form 4
Heimark Craig Foster
Director
Transactions
- Conversion
4.5% Convertible Subordinated Secured Notes due 2010
2009-05-21$200000.00/shExercise: $0.70From: 2009-01-04Exp: 2010-01-04→ Common Stock - Conversion
Common Stock
2009-05-21$0.70/sh+285,714$200,000→ 365,802 total
Footnotes (2)
- [F1]The common stock issued is a result of the convesion of the principal amount of the Note held by the reporting person into shares of Common Stock at $.70 per share.
- [F2]The principal amount of this Note may be converted by the Reporting Person into shares of Common Stock at $.70 per share (as adjusted for stock splits, dividends and the like) on or after January 4, 2009. The conversion price is subject to adjustment on a broad-based weighted average basis in the event that the Issuer issues shares of its common stock or securities convertible into common stock (subject to certain exclusions) for a price per share less than the then effective conversion price. Unless and until the Issuer receives any necessary stockholder approval, no such anti-dilution adjustment may cause the conversion price to be less than $0.35 (as adjusted for stock splits, combinations, reclassifications or similar events). Interest shall be paid semi-annually in arrears on June 4 and December 4 of each year, commencing on June 4, 2008.