4//SEC Filing
POSITIVEID Corp 4
Accession 0001493152-16-012281
CIK 0001347022operating
Filed
Aug 11, 8:00 PM ET
Accepted
Aug 12, 4:16 PM ET
Size
9.2 KB
Accession
0001493152-16-012281
Insider Transaction Report
Form 4
POSITIVEID CorpPSID
PROBST LYLE L
President
Transactions
- Other
Series I Convertible Preferred Stock
2016-08-11−415→ 0 total→ Common Stock (415 underlying) - Award
Series II Convertible Preferred Stock
2016-08-11+456→ 456 totalExercise: $0.10→ Common Stock (456 underlying)
Footnotes (5)
- [F1]Mr. Probst has entered into an exchange agreement pursuant to which he has exchanged 415 shares of Series I Convertible Preferred Stock, with a liquidation value of $456,419, for 456 shares of Series II Convertible Preferred Stock, with an initial liquidation value of $456,000. Any such shares of Series I Convertible Preferred Stock previously issued to Mr. Probst 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) $1.23; (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 415 shares of the Company's Convertible Series I Preferred Stock were convertible as of August 11, 2016 into 367,393 shares of common stock, par value of $0.01.
- [F4]No expiration date
- [F5]The Series II granted to Mr. Probst has a stated value of $1,000 per share and as of August 11, 2016, are convertible into 4,614,954 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 115,373,862 votes. These shares constitute the majority of his beneficial ownership in the Company. The Series II shares will vest on January 1, 2019.
Documents
Issuer
POSITIVEID Corp
CIK 0001347022
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001347022
Filing Metadata
- Form type
- 4
- Filed
- Aug 11, 8:00 PM ET
- Accepted
- Aug 12, 4:16 PM ET
- Size
- 9.2 KB