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|Insider Buy Sell Ratios||Stock Options|| Insider Trading |
| Insider Trading |
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"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
| FORM 4 |
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION |
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
| ( 1 )Shares of common stock were acquired by the Reporting Person pursuant to the exercise of incentive stock options granted to the Reporting Person on July 8, 2020.|
( 2 )The shares of common stock were acquired pursuant to a cashless exercise of 1,000,000 incentive stock options granted to the Reporting Person on July 8, 2020. The incentive stock options were exercised at a price of $0.2150 per the terms of the option grant, for a total valuation of $215,000. As of 2/19/2021, the trading day prior to the date the Reporting Person requested the exercise, the closing price per share of common stock was $5.45. Accordingly, the cashless exercise resulted in 39,450 common shares used as consideration to acquire a net 960,550 common shares.
( 3 )Shares of common stock beneficially owned by the Reporting Person are held of record by X, LLC, which is an entity that is wholly-owned and controlled by the Reporting Person. The Reporting Person has voting and dispositive control over any securities owned of record by X, LLC.
( 4 )The Incentive Stock Options were originally granted to the Reporting Person on July 8, 2020 with 500,000 options vesting immediately, thereafter the remaining 500,000 options would vest quarterly over 2 years. In connection with the Reporting Person's resignation as Chief Executive Officer of the Issuer, the board of directors agreed to accelerate the vesting of all options so that such options fully vested effective upon his resignation.
|* 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).|