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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (Right to Buy) | $ 0.7 | 08/02/2018 | A | 100,000 | (1) | 08/02/2028 | Common Stock | 100,000 | (2) | 306,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Major Donald Andrew PRECISION OPTICS CORPORATION, INC. 22 EAST BROADWAY GARDNER, MA 01440 |
Chief Financial Officer |
/s/ Donald A. Major | 08/06/2018 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The options vest as follows: 33,000 options vest on November 2, 2018 (3 months after grant date); 33,000 options vest three months following the end of the second consecutive quarter in which the Issuer's quarterly revenues are $1,500,000 or greater as published in a Form 10-Q or 10-K; and 34,000 options vest three months following the end of the second consecutive quarter in which the Issuer's gross margin percentage is 30% or greater as published in a Form 10-Q. All options vest upon a change in control or termination for a reason other than cause. |
(2) | The options were granted by the Issuer as a one-time grant to compensate Mr. Major for his acceptance of the position of Chief Financial Officer. |