PEERLESS SYSTEMS CORP 4
4 · PEERLESS SYSTEMS CORP · Filed Jun 28, 2013
Insider Transaction Report
Form 4
Dickman Matthew R.
Director
Transactions
- Award
Common Stock
2013-06-27+2,696→ 2,696 total - Award
Options to acquire common stock
2013-06-27+2,000→ 12,000 totalExercise: $3.71Exp: 2023-06-27→ Common Stock (2,000 underlying)
Footnotes (3)
- [F1]Such shares of restricted common stock were issued to Mr. Dickman for his re-election to the Board at the Company's 2013 annual meeting of stockholders. One half of these shares will vest on the earlier of (i) June 27, 2014 or (ii) the date of the Company's 2014 annual meeting of stockholders, and the other half will vest on the earlier of (i) June 27, 2015 or (ii) the date of the 2015 annual meeting of stockholders. All shares were received in consideration for Mr. Dickman's service as a director of the Company.
- [F2]Twenty-five percent (25%) of the shares subject to such option shall vest and become exercisable on June 27, 2014 (the completion of one year of service measured from the grant date). The balance of the shares subject to such option shall vest and become exercisable in a series of thirty-six (36) successive equal monthly installments upon completion of each additional month of service after June 27, 2014 until all of the options are vested.
- [F3]All options were received in consideration for Mr. Dickman 's service as a director of the Company.