Ottaviani William L 4
4 · ZION OIL & GAS INC · Filed Jul 5, 2011
Insider Transaction Report
Form 4
Ottaviani William L
President and COO
Transactions
- Award
Common Stock Options
2011-06-30+2,100→ 14,015 totalExercise: $0.01Exp: 2020-01-31→ Common Stock, Par Value $0.01 (2,100 underlying)
Footnotes (1)
- [F1]The options were granted under the Company's 2005 Stock Option Plan. Pursuant to the Reporting Person's employment agreement with the company, at the end of each calendar quarter, beginning with the quarter ended March 31, 2010, the Reporting Person is entitled to fully vested options at a per share exercise price of $0.01 to purchase such number of the Company's common stock, par value $0.01 per share (the "Common Stock"), as shall equal $12,500 divided by the closing price on the last trading day of the respective calendar quarter of the Company's publicly traded share of Common Stock, but in no event less than $5.00 per share. The closing of Market Price on June 30, 2011 was $5.95.