VERITEQ 4
4 · VERITEQ · Filed Nov 4, 2014
Insider Transaction Report
Form 4
VERITEQVTEQ
SILVERMAN SCOTT R
DirectorChief Executive Officer10% Owner
Transactions
- Award
Series D Convertible Preferred Stock
2014-10-31+1,400→ 1,400 totalFrom: 2017-01-02→ Common Stock (451,612,903 underlying)
Footnotes (3)
- [F1]The Reporting Person's Series D Convertible Preferred Stock does not have an expiration date. If the reporting person separates from the Company because of a termination for cause or by resigning without good reason, as defined under the terms of his employment agreement, then he shall forfeit the shares of Series D Preferred Stock. The Series D Preferred Stock will automatically vest upon a change of control event.
- [F2]The Series D Convertible Preferred Stock will be convertible at a conversion price per share equal to the lesser of the average closing price of the five trading days prior to the date of conversion or $0.0031, which was the closing price of the Company's common stock on October 31, 2014.
- [F3]The Series D Convertible Preferred Stock was acquired pursuant to the terms of an agreement dated October 31, 2014, between the Issuer and the reporting person in satisfaction of $1,400,000 owed to the Reporting Person by the issuer.