4/A//SEC Filing
O'Sullivan Brad P. 4/A
Accession 0001496509-11-000002
CIK 0001303433other
Filed
Mar 1, 7:00 PM ET
Accepted
Mar 2, 3:24 PM ET
Size
7.4 KB
Accession
0001496509-11-000002
Insider Transaction Report
Form 4/AAmended
Optionable IncOPBL
O'Sullivan Brad P.
DirectorInterim CEO
Transactions
- Award
Stock Option
2010-06-29+500,000→ 145,000 totalExercise: $0.02→ Common Stock (500,000 underlying)
Footnotes (3)
- [F1]On March 1, 2011, the Company's board of directors amended Mr. O'Sullivan's stock options agreement dated June 29, 2010. The amendment raised the exercise price from $0.015 to $0.020.
- [F2]50,000 options vested on June 29, 2010 and 75,000 vested on December 29, 2010. 125,000 options will each vest on June 29, 2011, December 29, 2011 and June 29, 2012. Notwithstanding the foregoing, the options shall vest immediately upon a change in control of the Company, or shall vest on the effective date of Mr. O'Sullivan's resignation or termination of his services to the Company if he resigns for Good Reason or is terminated without Cause, or is not nominated for re-election to the Board of Directors without Cause. The terms "Cause" and "Good Reason" are defined in the amended Stock Option Plan.
- [F3]The Company amended the termination terms to the following: The options shall terminate (even if vested) upon the earliest to occur of (i) the effective date of Mr. O'Sullivan's resignation if he resigns without Good Cause, (ii) the effective date of his termination of services to the Company if such services were terminated for Cause, (iii) the second anniversary of the effective date of his resignation for Good Reason, (iv) the second anniversary of the effective date of the termination of his services without Cause, (v) the second anniversary of the termination of his services as a director after the Board fails without Cause to nominate him for re-election to the Board, (vi) the year anniversary of the termination of his services due to disability, and (vii) the the first anniversary of his death if such death occurred while he was still employed with or serving the Company.
Documents
Issuer
Optionable Inc
CIK 0001303433
Entity typeother
Related Parties
1- filerCIK 0001496509
Filing Metadata
- Form type
- 4/A
- Filed
- Mar 1, 7:00 PM ET
- Accepted
- Mar 2, 3:24 PM ET
- Size
- 7.4 KB