Crichton Matt 4
4 · TSS, Inc. · Filed Nov 13, 2019
Insider Transaction Report
Form 4
TSS, Inc.TSSI
Crichton Matt
Sr. V.P., Business Development
Transactions
- Award
Common Stock
2019-11-11+200,000→ 200,000 total - Award
Employee Stock Option
2019-11-11+250,000→ 250,000 totalExercise: $0.80Exp: 2029-11-11→ Common Stock (250,000 underlying)
Footnotes (2)
- [F1]These shares of common stock represent restricted stock granted pursuant to an award agreement between Mr. Crichton and the Issuer and are subject to forfeiture. The restricted stock awarded will vest in installments as follows: (1) 100,000 shares will vest on November 11, 2020, and (2) 100,000 shares will vest on November 11, 2021. All unvested shares of restricted stock will vest upon a change of control of the Issuer.
- [F2]The option becomes exercisable in installments as follows: (1) 83,333 shares will vest on November 11, 2020, (2) 83,333 shares will vest on November 11, 2021, and (3) 83,334 shares will vest on November 11, 2022. The option will become immediately exercisable upon the occurrence of a change in control of the Issuer.