Sturtz Laurence E 5

5 · ADCARE HEALTH SYSTEMS INC · Filed Feb 17, 2010

Form 5

Period: 2009-12-31

Director

Transactions

Award
Common Stock
2009-12-07+8,768→ 39,350 total
Small Acquisition
Common Stock
2009-12-31+3,762→ 39,350 total
Award
Warrants
2009-12-07−8,768→ 45,152 total
From: 2012-11-16Exp: 2017-11-16→ Common Stock (8,768 underlying)

Holdings

Common Stock
39,350
Warrants
Exercise: $2.50From: 2006-11-07Exp: 2014-12-08→ Common Stock (4,000 underlying)
45,152
Options
Exercise: $2.50From: 2005-06-01Exp: 2010-06-01→ Common Stock (8,000 underlying)
15,000
Options
Exercise: $1.50From: 2009-05-09Exp: 2014-05-09→ Common Stock (1,400 underlying)
15,000
Options
Exercise: $1.50From: 2010-05-09Exp: 2015-05-09→ Common Stock (1,400 underlying)
15,000
Options
Exercise: $1.50From: 2011-05-09Exp: 2016-05-09→ Common Stock (1,400 underlying)
15,000
Warrants
Exp: 2017-11-16→ Common Stock (35,072 underlying)
45,152
Options
Exercise: $1.50From: 2007-05-09Exp: 2012-05-09→ Common Stock (1,400 underlying)
15,000
Options
Exercise: $1.50From: 2008-05-09Exp: 2013-05-09→ Common Stock (1,400 underlying)
15,000

Footnotes (5)

[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 per share.
[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 $2.50 and to extend the expiration date to 12/8/2014 the fifth anniversary date of the Company's private offering.
[F5]Shares were purchased throughout 2009 at various prices by particiation in the AdCare Health Systems Employee Stock Purchase Program.

Documents

1 file