Atkinson Gareth M 4
4 · Residential Income Properties, Inc. · Filed Mar 30, 2009
Insider Transaction Report
Form 4
Atkinson Gareth M
President,Chief Operating Ofc.
Transactions
- Other
Common Stock, $0.0001 par value per share
2009-03-13+0→ 750,000 total
Footnotes (5)
- [F1]On January 23, 2009, the Issuer issued the Reporting Person 750,000.0000 shares of its common stock, $0.0001 par value per share, as compensation for his services, to-date, to the Issuer as its President and Chief Operating Officer. For (U. S.) Internal Revenue Service taxation purposes, the value of the Reporting Person's compensation was valued at par.
- [F2]On March 13, 2009, the Reporting Person telephonically submitted his resignation to the Issuer's Chief Administrative Officer. The Reporting Person's effective resignation date is the effective date of this report.
- [F3]On March 14, 2009, the Reporting Person announced his resignation to the Vice-Chairman-elect of the Board of Directors; therefore, the Issuer deems this date to be the execution date of this filing.
- [F4]The Issuer has not cancelled the Reporting Person's shares following his resignation, as he contributed his time and efforts toward the issuer's development prior to this resignation; therefore, the Reporting Person continues to own 750,000.0000 shares of the Issuer's common stock, until either he voluntarily rescinds his subscription for said shares or returns his shares to the Issuer.
- [F5]For (U. S.) Internal Revenue Service taxation purposes, the Issuer values the stock issued to the Reporting Person as compensation at par value, or $75.00.