MobiVentures Inc. 3
3 · MobiVentures Inc. · Filed Apr 10, 2008
Insider Transaction Report
Form 3
WOOTTON DANNY
Director10% Owner
Holdings
Warrants
Exercise: $0.10From: 2008-03-31Exp: 2013-03-31→ Common Stock (300,000 underlying)- 7,272,295
Common Stock
Footnotes (2)
- [F1]Shares acquired in connection with the acquisition of all issued and outstanding shares of Move2Mobile Limited ("M2M") by the Issuer pursuant to an Equity Share Purchase Agreement. Mr. Wootton was a principal shareholder and a director of M2M. In addition, Mr. Wootton is entitled to be issued additional shares on each of the first and second anniversaries of the closing of the acquisition in an amount determined in accordance with the Equity Share Purchase Agreement and based on his pro-rata ownership of shares in M2M.
- [F2]Of the 300,000 Warrants, 200,000 Warrants are fully vested and 100,000 Warrants will vest upon satisfaction of certain performance criteria by Mr. Wootton pursuant to the Consultant Agreement between the Issuer and Mr. Wootton. The Warrants are exercisable for a term expiring on the earlier of five years from the date of grant and one year from the date of termination of the Consultant Agreement for any reason.