4//SEC Filing
Jiangping Jiang 4
Accession 0001369459-09-000005
CIK 0001336644other
Filed
Feb 16, 7:00 PM ET
Accepted
Feb 17, 9:46 AM ET
Size
9.2 KB
Accession
0001369459-09-000005
Insider Transaction Report
Form 4
Jiangping Jiang
DirectorChief Executive Officer10% Owner
Transactions
- Award
Options
2009-01-20+6,000,000→ 6,000,000 totalExercise: $1.28From: 2010-01-20Exp: 2019-01-19→ Common Stock (6,000,000 underlying) - Purchase
Common Stock
2009-02-13$1.28/sh+200,000$256,000→ 12,000,000 total
Footnotes (2)
- [F1]These options were issued pursuant to the Company's 2009 Incentive Stock Plan (the "Plan") and two Incentive Stock Option Agreements dated as of January 20, 2009. The options shall become exercisable during the term of the Reporting Person's employment in six (6) equal annual installments of an aggregate of 999,999 shares of common stock each (save for the last installments of an aggregate of 1,000,005 shares), the first installments to be exercisable on the first anniversary of the date of the options (the "Initial Vesting Date"), with additional installments becoming exercisable on each of the successive periods following the Initial Vesting Date.
- [F2]The terms of exercise described above are subject to the following acceleration provisions: in the event (i) the Company reports an after tax Net Income (as that term is defined in Securities Purchase Agreement dated August 29, 2008, entered into by and among the Company and certain investors (the "Securities Purchase Agreement")) of $14,000,000 in its Annual Report on Form 10-K for its fiscal year 2008, then options to purchase an aggregate of 1,999,998 shares of common stock in the aggregate under the Plan shall vest and become immediately exercisable, (ii) the Company reports an after tax Net Income of $18,000,000 for its fiscal year 2009, then options to purchase another 1,999,998 shares of common stock shall vest and become immediately exercisable and (iii) the Company reports an after tax Net Income of $22,000,000 for its fiscal year 2010, then options to purchase another 2,000,004 shares of common stock shall vest and become immediately exercisable.
Documents
Issuer
UNIVERSAL TRAVEL GROUP
CIK 0001336644
Entity typeother
Related Parties
1- filerCIK 0001369459
Filing Metadata
- Form type
- 4
- Filed
- Feb 16, 7:00 PM ET
- Accepted
- Feb 17, 9:46 AM ET
- Size
- 9.2 KB