Park Place Energy Corp. 4
4 · Park Place Energy Corp. · Filed Oct 2, 2015
Insider Transaction Report
Form 4
MUNCHINSKI FRANCIS M.
Secretary
Transactions
- Award
Restricted Stock Units
2015-09-30+78,632→ 218,134 total→ Common Shares (78,632 underlying)
Holdings
- 139,502
Restricted Stock Units
→ Common Shares (139,502 underlying) - 100,000
Stock Options
Exercise: $0.20From: 2014-01-13Exp: 2014-01-12→ Common Shares (100,000 underlying) - 224,896
Restricted Stock Units
→ Common Shares (224,896 underlying) - 125,000
Common Shares
- 50,000
Stock Options
Exercise: $0.23From: 2013-11-01Exp: 2016-10-31→ Common Shares (50,000 underlying)
Footnotes (5)
- [F1]Each Restricted Stock Unit is a notional share of common shares of the Issuer, with a value of each Unit being equal to the Fair Market value of a share of common stock at any time.
- [F2]100% of the total Restricted Stock Units shall vest on December 1, 2015 provided Mr. Munchinski is still a contractor providing services to the Issuer on that date. Vesting will be accelerated if the Issuer either (a) raises an aggregate of $10 million through the sale of the Issuer's equity, or (b) becomes entitled to realize economic benefits of at least $20 million through any combination of capital raising or financing transactions.
- [F3]Upon the occurrence of 2(a) or (b) above, or a change of control, termination of service due to death, disability or termination of service, all unvested Restricted Stock Units shall immediately become vested.
- [F4]100% of the total Restricted Stock Units shall vest on December 1, 2016 provided Mr. Munchinski is still a contractor providing services to the Issuer on that date. Vesting will be accelerated if the Issuer either (a) raises an aggregate of $10 million through the sale of the Issuer's equity, or (b) becomes entitled to realize economic benefits of at least $20 million through any combination of capital raising or financing transactions.
- [F5]Upon the occurrence of 4(a) or (b) above, or a change of control, termination of service due to death, disability or termination of service, all unvested Restricted Stock Units shall immediately become vested.