4//SEC Filing
SAMAAN ANDREW WATSON 4
Accession 0001437749-11-005451
CIK 0001303433other
Filed
Aug 3, 8:00 PM ET
Accepted
Aug 4, 2:56 PM ET
Size
6.8 KB
Accession
0001437749-11-005451
Insider Transaction Report
Form 4
Optionable IncOPBL.OB
SAMAAN ANDREW WATSON
Director
Transactions
- Award
Stock Option
2011-08-03+100,000→ 100,000 totalExercise: $0.04→ Common Stock (100,000 underlying)
Footnotes (3)
- [F1]20,000 options vested on August 3, 2011 and 20,000 each will vest on February 3, 2011, August 3, 2012, February 3, 2012, and August 3, 2013. Notwithstanding the foregoing, the options shall vest immediately (i) upon a change in control of the Company, (ii) on the effective date of Andrew Samaan's resignation or termination of his services to the Company if he resigns for Good Reason or is terminated without Cause, or (iii) if Mr. Samaan is not nominated for re-election to the Board of Directors without Cause.
- [F2]"Cause" means being convicted or pleading guilty or nolo contendre for illegal conduct (other than any misdemeanor, traffic violation or similar misconduct), or a willful act that constitutes gross misconduct and that is materially injurious to the Company. "Good Reason" means a material reduction in Mr. Samaan's compensation and/or benefits, a material diminution in Mr. Samaan's job responsibilities or position in the Company, or the reolocation of the Company's office or Mr. Samaan's principal duties with the Company outside of New York City.
- [F3]The options shall terminate (even if vested) upon the earliest to occur of (i) the effective date of Andrew Samaan's resignation if he resigns without Good Cause, (ii) the effective date of his termination of services to the Company if such services were terminated for Cause, (iii) the second anniversary of the effective date of his resignation for Good Reason, (iv) the second anniversary of the effective date of the termination of his services without Cause, (v) the second anniversary of the termination of his services as a director after the Board fails without Cause to nominate him for re-election to the Board, (vi) the first anniversary of the termination of his services due to disability, and (vii) the first anniversary of his death if such death occurred while still he was employed with or serving the Company.
Documents
Issuer
Optionable Inc
CIK 0001303433
Entity typeother
Related Parties
1- filerCIK 0001454897
Filing Metadata
- Form type
- 4
- Filed
- Aug 3, 8:00 PM ET
- Accepted
- Aug 4, 2:56 PM ET
- Size
- 6.8 KB