TODHUNTER DAVID W 4
4 · BeesFree, Inc. · Filed Nov 8, 2012
Insider Transaction Report
Form 4
BeesFree, Inc.BEES
TODHUNTER DAVID W
President, CEO & CFO
Transactions
- Award
Option (right to purchase)
2012-10-19+250,000→ 250,000 totalExercise: $1.55From: 2012-10-19Exp: 2016-10-19→ Common Stock (250,000 underlying) - Award
Option (right to purchase)
2012-10-19+250,000→ 250,000 totalExercise: $1.55→ Common Stock (250,000 underlying) - Award
Option (right to purchase)
2012-10-19+1,200,000→ 1,200,000 totalExercise: $1.55→ Common Stock (1,200,000 underlying)
Footnotes (2)
- [F1]These options vest on the earlier of December 31, 2012 and the closing of an investment into the Company of not less than $1 million and expire four (4) years from the date of vesting.
- [F2]These options vest 1/3 on each of December 31, 2013, 2014 and 2015 (each, a "Measurement Period"), based on the Company's EDITDA for such periods (each, a "Performance Measurement"). For each Measurement Period, Performance Options shall begin vesting if the Company's EBITDA reaches at least 66.66% of the applicable Performance Measurement. The Performance Options for each Measurement Period will vest in full (400,000 per year) in the event a Performance Measurement is reached 100%. The number of options to vest in the event less than 100% of a Performance Measurement has been reached in any given Measurement Period shall be at the discretion of the Board of Directors. These Performance Options expire four (4) from the date of vesting.