EROR STEVEN C 4
4 · PROLUNG INC · Filed Aug 28, 2017
Insider Transaction Report
Form 4
PROLUNG INC[None]
EROR STEVEN C
DirectorChief Executive Officer
Transactions
- Award
Employee Stock Option (right to buy)
2017-08-24+1,200,000→ 1,200,000 totalExercise: $1.00Exp: 2027-08-24→ Common Stock (1,200,000 underlying) - Award
Employee Stock Option (right to buy)
2017-08-24+20,000→ 20,000 totalExercise: $1.00From: 2017-08-24Exp: 2027-08-24→ Common Stock (20,000 underlying) - Award
Employee Stock Option (right to buy)
2017-08-24+20,000→ 20,000 totalExercise: $1.00Exp: 2027-08-24→ Common Stock (20,000 underlying)
Footnotes (2)
- [F1]The option vests in four equal quarterly installments: September 30, 2017; December 31, 2017; March 31, 2018; and June 30, 2018.
- [F2]The option is not exercisable unless and until ProLung, Inc. (the "Company") obtains the necessary approvals from the U.S. Food and Drug Administration with respect to the marketing and sale in commerce of the Company's Electro Pulmonary Nodule Scan and related devices for any claim of use related to screen or preliminary screen for node or other indicia of cancer ("FDA Approval"). To the extent FDA Approval is obtained prior to January 1, 2020, the option shall vest as follows: 1,200,000 shares of Common Stock if FDA Approval is obtained on or before January 1, 2018; 900,000 shares of Common Stock if FDA Approval is obtained after January 1, 2018 and on or before July 1, 2018; 600,000 shares of Common Stock if FDA Approval is obtained after July 1, 2018 and on or before January 1, 2019; 300,000 shares of Common Stock if FDA Approval is obtained after January 1, 2019 and on or before January 1, 2020.