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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 Options (4) | $ 3 (1) | 06/13/2008 | D(2) | 501,334 (1) | (2) | 11/21/2017 | Common Stock, $.001 par value | 501,334 (1) | $ 0 | 0 | D | ||||
Stock Options (4) | $ 0.54 | 06/13/2008 | A(2) | 501,334 | (2) | 11/21/2017 | Common Stock, $.001 par value | 501,334 | $ 0 | 501,334 | D | ||||
Stock Options (4) | $ 3 (1) | 06/13/2008 | D(3) | 29,974 (1) | (3) | 11/21/2017 | Common Stock, $.001 par value | 29,974 (1) | $ 0 | 0 | D | ||||
Stock Options (4) | $ 0.54 | 06/13/2008 | A(3) | 29,974 | (3) | 11/21/2017 | Common Stock, $.001 par value | 29,974 | $ 0 | 29,974 | D | ||||
Stock Options (4) | $ 0.54 | 06/13/2008 | A | 20,000 | (5) | 06/13/2018 | Common Stock, $.001 par value | 20,000 | $ 0 | 20,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
BECKER MICHAEL D 180 MT. AIRY ROAD, SUITE 102 BASKING RIDGE, NJ 07920 |
X | President and CEO |
/s/ Michael D. Becker | 06/16/2008 | |
**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) | Adjusted to reflect a 1-for-10 reverse stock split effective on 4/25/08. |
(2) | This transaction involves an amendment to an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on 11/21/2007 and provided for vesting in four equal annual installments beginning on 11/21/2008. |
(3) | This transaction involves an amendment to an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on 11/21/2007 and provided for vesting under certain contingencies. 21,410 shares vest on 11/21/08 and 8,564 vest on 11/21/09. |
(4) | Pursuant to Rule 16b-3 (right to buy); issued under the 2003 Stock Option Plan. |
(5) | 6,667 shares vest immediately; 6,667 shares vest on 6/13/09 and 6,666 shares vest on 6/13/10. |