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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 | $ 0.11 (1) | 08/02/2017 | A | 1,500,000 | 08/02/2017 | 08/02/2021 | Common Stock | 1,500,000 | (1) | 1,500,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Lustgarten Shai Shalom 3663 GILROY ROAD SALT LAKE CITY, UT 84109 |
X | Chief Executive Officer |
/S/ Shai Lustgarten | 08/15/2017 | |
**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) | Pursuant to the Share Purchase Option Plan, Mr. Lustgarten received a stock option grant of 1,500,000 stock options. The options are exercisable as follows: options to purchase 375,000 shares are immediately vested on August 02, 2017 at an exercise price of $0.11 per share; options to purchase 375,000 shares vest on November 02, 2017 at an exercise price of $0.11 per share, options to purchase 375,000 shares vest on February 02, 2018 at an exercise price of $0.11 per share, and options to purchase 375,000 shares vest on May 02, 2018 at an exercise price of $0.11 per share, subject to any change in control acceleration provisions. The exercise price of the options was based on the closing price of the Company's common stock on the day prior to the grant. |