|
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 |
|
| ||||||||||||||||||||||||||||||||||||||
|
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) |
||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Options (Right to Buy) | $ 0.5 | 01/09/2014 | D | 75,000 (1) | 01/19/2012 | 01/14/2014 | Common Stock | 150,000 | $ 1.2 | 75,000 | D | ||||
Stock Options (Right to Buy) | $ 0.5 | 01/09/2014 | M | 75,000 | 01/19/2012 | 01/14/2014 | Common Stock | 75,000 | $ 0 | 0 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Vandenberg Fred #750 PO BOX 11527 650 WEST GEORGIA STREET VANCOUVER, A1 V6B 4N7 |
Chief Financial Officer |
/s/ Frederick Vandenberg | 01/28/2014 | |
**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) | Reflects 75,000 stock options cancelled by the issuer in exchange for a cash payment of $90,000 representing the difference between the low market price on January 9, 2014, being $1.70 per share, less the exercise of $0.50 per share ($1.20). The funds will be used by the insider to fund the tax liability associated with the cashless exercise of the stock options. The transaction was approved by the Board of Directors. |
(2) | Reflects 19,841 shares withheld by the issuer at a price of $1.89 per share less the exercise price of $0.50 per share to fund the cashless exercise of stock options held by Mr. Vandenberg, which cashless exercise was approved by the Board of Directors. |