Lippa Arnold 4
4 · RespireRx Pharmaceuticals Inc. · Filed Mar 24, 2020
Insider Transaction Report
Form 4
Lippa Arnold
DirectorChairman, CEO and PresidentOther
Transactions
- Gift
Common Stock
2020-03-22−4,500,000→ 598 total - Other
Common Stock
2020-03-22+4,500,000→ 4,500,598 total
Footnotes (2)
- [F1]On March 21, 2020, Dr. Lippa agreed to forgive a portion of the accrued but unpaid compensation to which he was entitled pursuant to his employment agreement with RespireRx Pharmaceuticals Inc. (the "Company") equal to $153,000. On March 22, 2020, the Company issued to Dr. Lippa 4,500,000 shares of the Company's common stock, in exchange for the forgiveness of $153,000 of accrued and unpaid compensation, which equates to a per share value of $0.034 per share, the closing share price of the Company's common stock on Friday, March 20, the last business day prior to the transaction.
- [F2]Dr. Lippa gifted these securities into a family trust for estate planning purposes. He is not the trustee and does not exercise voting or investment control over shares held in the trust, but he is a beneficiary of the trust.