MINTZ DAVID 4
4 · TOFUTTI BRANDS INC · Filed Oct 14, 2021
Insider Transaction Report
Form 4
MINTZ DAVID
DirectorChief Executive Officer10% Owner
Transactions
- Award
Convertible Promissory Note
2020-01-10Exercise: $1.77From: 2020-01-10Exp: 2022-12-31→ Common Stock (282,486 underlying)
Holdings
- 2,630,440
Common Stock, par value $0.01
Footnotes (2)
- [F1]Mr. Efraim Mintz, as the executor of the reporting person, has both voting and investment power over any shares held by the reporting person, and therefore may be deemed to beneficially own the shares held of record by the reporting person. Mr. Efraim Mintz disclaims beneficial ownership of the shares directly held by the reporting person.
- [F2]On January 6, 2016, Mr. David Mintz, the Issuer's former Chairman and Chief Executive, who passed away in February 2021, provided the Issuer with a loan of $500,000 with an annual interest rate of 5% payable on a quarterly basis. The loan, which was originally set to expire on December 31, 2017, was extended to December 31, 2022 effective January 10, 2020. The extended loan is, at the option of the holder, convertible into the Issuer's common stock at a conversion price of $1.77 per share, the closing price of the Issuer's common stock on the date of the extension of the promissory note.