Stevanovski David 5
5 · WORLDGATE COMMUNICATIONS INC · Filed Feb 10, 2011
Insider Transaction Report
Form 5
WORLDGATE COMMUNICATIONS INCWGAT.OB
Stevanovski David
Director10% Owner
Transactions
- Award
Warrant (right to buy)
2010-03-30+3,000,000→ 3,000,000 total(indirect: By LLC)Exercise: $0.04Exp: 2020-03-30→ Common Stock, $0.01 par value (3,000,000 underlying)
Footnotes (2)
- [F1]Vests based on purchases of videophones under a Master Purchase Agreement ("MPA") between the Issuer and ACN Digital Phone Service, LLC ("DPS"). The first 500,000 shares vest upon the purchase of 99,440 units, and the remaining 2,500,000 shares vest upon the purchase of the last of the remaining 200,560 units.
- [F2]The reporting person is a stockholder, officer and director of ACN, Inc. (parent of DPS) and may be deemed to beneficially own these securities. The reporting person disclaims beneficial ownership of such securities, and this report shall not be deemed an admission that such reporting person is the beneficial owner of the securities for the purpose of Section 16 or for any other purpose, except to the extent of his pecuniary interest therein.