4//SEC Filing
SCHMITT DAVID GEORGE 4
Accession 0001704974-18-000001
CIK 0001606698other
Filed
Aug 23, 8:00 PM ET
Accepted
Aug 24, 3:50 PM ET
Size
15.2 KB
Accession
0001704974-18-000001
Insider Transaction Report
Form 4
SCHMITT DAVID GEORGE
CHIEF FINANCIAL OFFICER
Transactions
- Purchase
WAGES PAYABLE AGREEMENT
2017-12-31+393,457→ 393,457 totalExercise: $0.15From: 2017-12-31→ CLASS A COMMON STOCK (393,457 underlying) - Award
OPTION
2017-07-31+6,250→ 0 totalExercise: $0.13From: 2017-07-31Exp: 2027-07-30→ CLASS A COMMON STOCK (6,250 underlying) - Other
LOAN AGREEMENT
2017-12-31+249,494→ 249,494 total(indirect: By Spouse)Exercise: $0.13From: 2017-12-31→ CLASS A COMMON STOCK (249,494 underlying) - Other
OPTION
2017-12-31−350,000→ 0 totalExercise: $0.90Exp: 2027-04-06→ CLASS A COMMON STOCK (400,000 underlying)
Footnotes (4)
- [F1]ON JULY 31, 2017, ALPINE 4 TECHNOLOGIES LTD. GRANTED OPTIONS TO PURCHASE UP TO 100,000 SHARES OF CLASS A COMMON STOCK TO THE REPORTING PERSON. THE OPTIONS WERE TO VEST OVER 4 YEARS, 1/16 PER QUARTER. CONTINUED EMPLOYMENT WITH THE ISSUER WAS A CONDITION TO VESTING. THE REPORTING PERSON TERMINATED HIS EMPLOYMENT WITH THE ISSUER ON DECEMBER 31, 2017, AND AS SUCH, 6,250 OPTIONS VESTED, AND THE REMAINING 93,500 OPTIONS WERE FORFEITED. THE TABLE ABOVE REFLECTS ONLY THE OPTIONS THAT VESTED. THE OPTIONS THAT VESTED WERE FORFEITED WHEN NOT EXERCISED WITHIN 90 DAYS OF TERMINATION OF EMPLOYMENT.
- [F2]IN CONNECTION WITH HIS DEPARTURE FROM THE ISSUER, THE REPORTING PERSON AND THE ISSUER ENTERED INTO A WAGES PAYABLE AGREEMENT RELATING TO $59,057.80 IN WAGES OWING TO THE REPORTING PERSON. PURSUANT TO THE AGREEMENT, THE REPORTING PERSON MAY CONVERT THE WAGES OWING, AT AN TIME AFTER 180 DAYS FOLLOWING THE DATE OF THE AGREEMENT, INTO SHARES OF THE COMPANY'S CLASS A COMMON STOCK AT A CONVERSION PRICE OF $0.1501, FOR A TOTAL OF 393,457 SHARES OF THE COMPANY'S CLASS A COMMON STOCK. THE CONVERSION RIGHT DOES NOT EXPIRE.
- [F3]ON DECEMBER 12, 2016, THE SPOUSE OF THE REPORTING PERSON LOANED TO ALPINE 4 TECHNOLOGIES LTD. $100,000 PURSUANT TO A NOTE. THE TERMS OF THE NOTE WERE THAT THE LOAN WAS TO BE REPAID WITHIN ONE YEAR, AT AN INTEREST RATE OF 35%. THE PRINCIPAL OF THE NOTE WAS REPAID ON NOVEMBER 17, 2017. IN THE SECOND AMENDMENT TO THE NOTE, THE ISSUER AND THE HOLDER AGREED THAT ALL OR ANY PORTION OF INTEREST ON THE NOTE IN THE AMOUNT OF $32,434.25 OWING AS OF DECEMBER 31, 2017, COULD BE CONVERTED INTO SHARES OF THE ISSUER'S CLASS A COMMON STOCK AT A CONVERSION PRICE OF 0.13 PER SHARE, FOR A TOTAL OF 249,424 SHARES OF THE ISSUER'S CLASS A COMMON STOCK. THE RIGHT TO CONVERT THE INTEREST DOES NOT EXPIRE.
- [F4]ON APRIL 7, 2017, THE REPORTING PERSON WAS GRANTED OPTIONS TO PURCHASE UP TO 400,000 SHARES OF CLASS A COMMON STOCK OF ALPINE 4 TECHNOLOGIES LTD. THE OPTIONS WERE TO VEST OVER A PERIOD OF FOUR YEARS BEGINNING ON THE DATE OF GRANT. SIX AND ONE-QUARTER PERCENT (6.25%) WOULD VEST EVERY THREE MONTHS, BEGINNING THREE MONTHS AFTER THE GRANT DATE. THERE WAS NO PROPORTIONAL VESTING. CONTINUED EMPLOYMENT WITH THE ISSUER WAS A CONDITION OF VESTING. ON DECEMBER 31, 2017, THE REPORTING PERSON TERMINATED HIS EMPLOYMENT WITH THE ISSUER, RESULTING IN THE FORFEITURE OF 350,000 OF THE OPTIONS. THE OPTIONS THAT VESTED WERE FORFEITED WHEN NOT EXERCISED WITHIN 90 DAYS OF TERMINATION OF EMPLOYMENT.
Documents
Issuer
Alpine 4 Technologies Ltd.
CIK 0001606698
Entity typeother
Related Parties
1- filerCIK 0001704974
Filing Metadata
- Form type
- 4
- Filed
- Aug 23, 8:00 PM ET
- Accepted
- Aug 24, 3:50 PM ET
- Size
- 15.2 KB