4//SEC Filing
Melnikov Vitaly 4
Accession 0001447333-09-000001
CIK 0001388982other
Filed
Mar 25, 8:00 PM ET
Accepted
Mar 26, 9:35 PM ET
Size
8.3 KB
Accession
0001447333-09-000001
Insider Transaction Report
Form 4
MASS Petroleum Inc.MASP.OB
Melnikov Vitaly
DirectorChief Financial Officer
Transactions
- Award
Call Option (right to buy)
2009-03-24$0.00/sh+240,000$24→ 740,000 totalExercise: $0.00→ Common Shares (240,000 underlying)
Holdings
- 500,000
Options (right to buy)
Exercise: $0.50→ Common Shares (500,000 underlying)
Footnotes (5)
- [F1]The Reporting Person has entered into an agreement, dated March 24, 2009, with the Issuer to amend the terms of the options reported in this Form 4 to: (a) decrease the exercise price from $1.50 to $0.50 per option, and (b) to extend the expiry date of the options until the earlier of June 5, 2013 or 90 days after termination of the Consulting Agreement entered into between the Reporting Person and the Issuer.
- [F2]The options will vest according to the following schedule: (a) 125,000 options will vest on December 6, 2008; (b) 125,000 options will vest on June 6, 2009; (c) 125,000 options will vest on December 6, 2009; and, (d) 125,000 options will vest on June 6, 2010.
- [F3]120,000 options will vest upon the closing of a transaction, where the Issuer either acquires at least 50% of the shares or assets of another company or disposes at least 50% of its outstanding shares or assets; and 120,000 options will vest six months after the closing date of the transaction.
- [F4]10 years after the options vest.
- [F5]Options were granted from a director of the Issuer.
Documents
Issuer
MASS Petroleum Inc.
CIK 0001388982
Entity typeother
Related Parties
1- filerCIK 0001447333
Filing Metadata
- Form type
- 4
- Filed
- Mar 25, 8:00 PM ET
- Accepted
- Mar 26, 9:35 PM ET
- Size
- 8.3 KB