Westerman Howard G JR 4

4 · PEN INC. · Filed Oct 18, 2018

Form 4

Period: 2018-10-16

Director

Transactions

Purchase
Class A Common Stock
2018-10-16$0.50/sh+33,898$16,949→ 77,787 total(indirect: See Footnote)
Purchase
Warrant
2018-10-16$0.03/sh+33,898$1,017→ 68,855 total(indirect: See Footnote)
Exercise: $1.50From: 2018-10-16Exp: 2022-10-16→ Class A common stock (33,898 underlying)
Other
Class A Common Stock
2018-10-16$0.50/sh+4,000$2,000→ 43,889 total
Purchase
Option
2018-10-16$0.03/sh+33,898$1,017→ 34,957 total(indirect: See Footnote)
Exercise: $1.00From: 2018-10-06Exp: 2019-06-30→ Class A common stock (33,898 underlying)
Purchase
Warrant Option
2018-10-16$0.03/sh+33,898$1,017→ 102,753 total(indirect: See Footnote)
Exercise: $2.00→ Class A common stock (33,898 underlying)

Footnotes (4)

[F1]Shares acquired directly were awarded as compensation for service as a director of PEN Inc.
[F2]Shares acquired indirectly and derivative securities acquired were purchased by a family investment entity that purchased an interest in an entity that acquired the issuer's securities in a private placement. Reporting person has voting control over the family investment entity but reporting person disclaims beneficial ownership of the securities held by the partnership for which he does not have pecuniary interest and this filing should not be construed as an admission that the reporting person is the beneficial owner of these securities.
[F3]Warrant will expire on the earlier of this date or the date that the Class A common stock has been trading at or above 120% of the exercise price for a period of 90 days.
[F4]Warrant Option is priced at $0.03 per warrant and can only be purchased after exercise of Option and only for that number of shares purchased as a result of option exercise. If exercised, warrant issued on exercise of Warrant Option will have warrant exercise price of $2.00 per share and will expire on the earlier of 4 days from date of issue or date that the Class A common stock has been trading at or above 120% of the exercise price for a period of 90 days.

Documents

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