Saleen Automotive, Inc. 4
4 · Saleen Automotive, Inc. · Filed Jun 17, 2015
Insider Transaction Report
Form 4
Saleen Steve
DirectorC.E.O. & President10% Owner
Transactions
- Other
Super Voting Preferred Stock
2015-06-16+220,000→ 302,133.875 total→ Common Stock (220,000,000 underlying) - Other
Common Stock
2015-06-16−82,133,875→ 0 total - Other
Super Voting Preferred Stock
2015-06-16+82,133.875→ 82,133.875 total→ Common Stock (82,133,875 underlying)
Footnotes (2)
- [F1]The reporting person exchanged 82,133,875 shares of common stock for 82,133.875 shares of super voting preferred stock. Each share of super voting preferred stock automatically converts into 1,000 shares of common stock upon the effectiveness of an amendment to the registrant's Articles of Incorporation that provides for a sufficient number of shares of common stock to permit the conversion of all outstanding shares of super voting preferred stock, and has a number of votes equal to the number of shares of common stock into which it is convertible.
- [F2]The registrant issued 220,000 shares of super voting preferred stock to the reporting person in consideration of the cancellation of $220,000 of indebtedness owed by the registrant to the reporting person. Each share of super voting preferred stock is convertible into 1,000 shares of common stock upon the effectiveness of an amendment to the registrant's Articles of Incorporation that provides for a sufficient number of shares of common stock to permit the conversion of all outstanding shares of super voting preferred stock, and has a number of votes equal to the number of shares of common stock into which it is convertible.