4//SEC Filing
Cox Patrick Raliey 4
Accession 0001432093-10-000456
CIK 0000811036other
Filed
Jul 6, 8:00 PM ET
Accepted
Jul 7, 4:15 PM ET
Size
8.2 KB
Accession
0001432093-10-000456
Insider Transaction Report
Form 4
TaxMasters, Inc.TAXS
Cox Patrick Raliey
DirectorChairman, CEO, President10% Owner
Transactions
- Other
Common Stock
2010-07-01−200,000,000→ 101,100,000 total - Other
Common Stock
2010-07-01−3,000,000→ 98,100,000 total
Footnotes (2)
- [F1]Pursuant to the terms and conditions of a Financial Reorganization Agreement entered into on July 1, 2010, the reporting person transferred 200 million shares of common stock to the issuer's transfer agent to be held in escrow until June 30, 2015. Such shares were originally issued to the reporting person in a "B" reorganization under the Internal Revenue Code of 1986. The escrowed shares shall be held by the issuer's transfer agent and the reporting person shall not have the right to vote such escrowed shares nor receive any dividend or other distributions in respect of such escrowed shares. After each of the Registrant's fiscal years completed prior to June 30, 2015, the reporting person shall be entitled to claw back the number of such escrowed shares based upon a formula tied to the financial performance of the issuer for such fiscal year. At June 15, 2010, any escrowed shares not released to the reporting person shall be cancelled.
- [F2]Pursuant to the terms and conditions of an Escrow Agreement entered into by and between the reporting person on July 1, 2010, the reporting person transferred to the issuer's transfer agent 3,000,000 shares of common stock which shares shall be released to a third party in 500,000 share increments based upon the 3 day average closing bid prices of the Company's common stock achieving certain price levels.
Documents
Issuer
TaxMasters, Inc.
CIK 0000811036
Entity typeother
Related Parties
1- filerCIK 0001468539
Filing Metadata
- Form type
- 4
- Filed
- Jul 6, 8:00 PM ET
- Accepted
- Jul 7, 4:15 PM ET
- Size
- 8.2 KB