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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 | ||||||||
Employee stock option (right to buy) | $ 3.09 | 02/18/2014 | A | 60,000 | (1) | 02/18/2024 | Common stock | 60,000 | $ 0 | 60,000 | D | ||||
Non-qualified stock option (right to buy) | $ 3.09 | 02/18/2014 | A | 120,000 | (2) | 02/18/2024 | Common stock | 120,000 | $ 0 | 180,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
GRAY MICHAEL 4 MAGUIRE ROAD LEXINGTON, MA 02421 |
CBO and CFO |
/s/ Michael P. Gray | 02/20/2014 | |
**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) | This option vests as to 25% of the original 60,000 shares on February 18, 2015 and as to an additional 6.25% of the original shares each successive three month period through and until February 18, 2018. |
(2) | The option vests, if at all, in four 30,000 share increments, on that date that is three business days after the date on which the reported closing sale price of the Company's common stock on the Nasdaq Global Market or, if that is not then the principal trading market for the Company's common stock, such principal market on which the Company's common stock is then traded or listed, has equaled or exceeded $6.00 per share, $7.50 per share, $9.00 per share and $10.50 per share, respectively, for a period of 60 consecutive trading days, provided that, in no event will this option vest in whole or in part on or after February 18, 2017. |