SALON MEDIA GROUP INC 4
4 · SALON MEDIA GROUP INC · Filed Jan 30, 2017
Insider Transaction Report
Form 4
SALON MEDIA GROUP INCSLNM.OB
Hoffner Jordan Jon
DirectorChief Executive Officer
Transactions
- Award
Option Agreement with Related Party (b)
2017-01-18+654,700→ 13,309,018 totalExercise: $0.10From: 2017-01-18Exp: 2027-01-19→ Common Stock (654,700 underlying) - Award
Series A Mandatorily Convertible Voting Preferred Stock (a)
2017-01-26$1.24/sh+40,292$49,962→ 40,292 total
Footnotes (3)
- [F1]The Series A Mandatorily Convertible Voting Preferred Stock will automatically convert into Common Stock upon the effectiveness of an amendment to the Company's current Restated Certificate of Incorporation authorizing sufficient shares of Common Stock for issuance on the conversion of the Series A Preferred Stock. Following the conversion into Common Stock, the Amount of Beneficially Owned Securities Following Reported Transaction will be 4,029,200.
- [F2]William Hambrecht, a director at Salon Media Group, granted Jordan Hoffner an option to purchase 654,700 shares of his stock at a price of $0.10.
- [F3]In addition to the 654,700 options granted by William Hambrecht, Mr. Hoffner has 12,654,318 Employee Stock Options granted under the Salon Media Group, Inc 2014 Stock Incentive Plan.