Forkey Joseph Norman 4
4 · PRECISION OPTICS CORPORATION, INC. · Filed Aug 6, 2018
Insider Transaction Report
Form 4
Forkey Joseph Norman
DirectorChief Executive Officer
Transactions
- Award
Common Stock ($0.01 par value)
2018-08-02+300,000→ 333,620 total - Award
Stock Option (Right to Buy)
2018-08-02+350,000→ 500,000 totalExercise: $0.73Exp: 2028-08-02→ Common Stock (350,000 underlying)
Footnotes (3)
- [F1]The shares of common stock will be issued in three tranches of 100,000 shares each, on the signing date of the compensation agreement, January 1, 2019 and January 1, 2020, as compensation for services as the Chief Executive Officer of the Issuer.
- [F2]The options vest as follows: 175,000 options vest on the date of filing a Form 10-Q or 10-K where the Issuer reports revenues of $1,500,000 or higher for two consecutive fiscal quarters; 175,000 options vest if the Issuer's common stock is trading at $1.00 per share or higher for fifteen consecutive trading days. All unvested options vest upon a change in control.)
- [F3]The options were granted as compensation for services as the Chief Executive Officer of the Issuer.