POSITIVEID Corp 4
4 · POSITIVEID Corp · Filed Aug 12, 2016
Insider Transaction Report
Form 4
POSITIVEID CorpPSID
COBB JEFFREY S
Director
Transactions
- Other
Series I Convertible Preferred Stock
2016-08-11−138→ 0 total→ Common Stock (138 underlying) - Award
Series II Convertible Preferred Stock
2016-08-11+154→ 154 totalExercise: $0.10→ Common Stock (154 underlying)
Footnotes (5)
- [F1]Mr. Cobb has entered into an exchange agreement pursuant to which he has exchanged 138 shares of Series I Convertible Preferred Stock, with a liquidation value of $154,180, for 154 shares of Series II Convertible Preferred Stock, with an initial liquidation value of $154,000. Any such shares of Series I Convertible Preferred Stock previously issued to Mr. Cobb are null and void and any and all rights arising thereunder are extinguished.
- [F2]The Series I post reverse stock split conversion prices were (i) $1.80;(ii) $1.25; (iii) $1.35; and (iv) 1.04, based on the conversion prices on such dates of grant of the Series I, and had a vesting date of January 1, 2017.
- [F3]The 138 shares of the Company's Convertible Series I Preferred Stock were convertible as of August 11, 2016 into 113,525 shares of common stock, par value of $0.01.
- [F4]No expiration date
- [F5]The Series II granted to Mr. Cobb has a stated value of $1,000 per share and as of August 11, 2016, are convertible into 1,558,948 shares of common stock, par value of $0.01, at $0.10 per share. Each share of Series II holds 25 votes per share for a total of 38,973,711 votes. The Series II shares will vest on January 1, 2019.