Wade Gary L 5

Accession 0001382752-10-000001

CIK 0001004724other

Filed

Feb 16, 7:00 PM ET

Accepted

Feb 17, 12:47 PM ET

Size

25.5 KB

Accession

0001382752-10-000001

Form 5

Period: 2009-12-31

DirectorPresident & CEO

Transactions

Award
Common Stock
2009-12-07+50,866→ 188,707 total
Other
Warrants
2009-12-07−50,866→ 245,464 total
From: 2012-11-16Exp: 2017-11-16→ Common Stock (50,866 underlying)
Small Acquisition
Common Stock
2009-12-31+3,203→ 188,707 total

Holdings

Warrants
Exercise: $2.50From: 2006-11-07Exp: 2014-12-08→ Common Stock (2,000 underlying)
245,464
Options
Exercise: $2.50From: 2006-08-27Exp: 2011-08-27→ Common Stock (1,600 underlying)
14,800
Options
Exercise: $1.50From: 2007-05-09Exp: 2012-05-09→ Common Stock (2,000 underlying)
14,800
Options
Exercise: $2.50From: 2005-08-27Exp: 2010-08-27→ Common Stock (1,600 underlying)
14,800
Options
Exercise: $1.50From: 2009-05-09Exp: 2014-05-09→ Common Stock (2,000 underlying)
14,800
Options
Exercise: $1.50From: 2011-05-09Exp: 2016-05-09→ Common Stock (2,000 underlying)
14,800
Common Stock
188,707
Warrants
Exercise: $2.50From: 2005-01-31Exp: 2011-09-01→ Common Stock (40,000 underlying)
245,464
Options
Exercise: $1.50From: 2008-05-09Exp: 2013-05-09→ Common Stock (2,000 underlying)
14,800
Warrants
Exp: 2017-11-16→ Common Stock (203,464 underlying)
245,464
Options
Exercise: $2.50From: 2007-08-27Exp: 2012-08-27→ Common Stock (1,600 underlying)
14,800
Options
Exercise: $1.50From: 2010-05-09Exp: 2015-05-09→ Common Stock (2,000 underlying)
14,800

Footnotes (6)

[F1]On August 15, 2008 the shareholders approved an incentive plan which granted warrants to certain officers and directors. The warrants vested over a five year period. On December 7, 2009 the shareholders approved an amendment to the incentive plan to eliminate 218,461 warrants. The amendment further called for 218,461 shares of the Company's common stock with a one year restriction on transfer to be issued.
[F2]The exercise price of the warrants vested in 2008 was $1.21 per share, those vested in 2009 was $2.25, those vested in 2010 was $3.00 and those vesting in 2011 is $4.00
[F3]The exercise price of the warrants was based upon the average closing price of the Company's common stock on NYSE-Amex during January 2011 but not less than $3.00.
[F4]On December 21, 2009 the warrant holders voted to amend the warrant agreement to decrease the exercise price from $5.40 to $2.54 and extend the expiration date to 12/8/2014 the fifth anniversary date of the Company's private offering.
[F5]Shares were purchased throughtout 2009 at various prices by participation in the AdCare Health Systems Employee Stock Purchase Program.
[F6]On December 7, 2009 shareholders voted to extend the expiration date of the warrants to 9/1/2011 which is the expiration date of Mr. Wade's employment contract.

Documents

1 file

ADCARE HEALTH SYSTEMS INC

CIK 0001004724

Entity typeother