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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 Option (Right to Buy) | $ 1.49 | 12/20/2008(1) | 06/20/2018 | Common Stock | 400,000 | 400,000 | D | ||||||||
Stock Option (Right to Buy) | $ 1.16 | 09/21/2011(1) | 03/21/2021 | Common Stock | 200,000 | 600,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Sabnani Sanjay 20300 VENTURA BLVD, SUITE 330 WOODLAND HILLS, CA 91364 |
X | X | CEO, President, Secretary |
Sanjay Sabnani | 12/12/2011 | |
**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) | Reporting person's right to receive Stock Options vest over a four year period, with the first one-eighth of the total Stock Options vesting on the six month anniversary of the grant date, and one-sixteenth of the total Stock Options vesting every 90 days after that six month anniversary date (the date indicated above as the exercise date). |
(2) | Due to a typographical error, the amount of securities beneficially owned by Sabnani IRA after the transaction was originally reported as 87,555 shares of Common Stock. The correct amount of securities beneficially owned by Sabnani IRA after the transaction is 57,555 shares of Common Stock. All other transactions remain the same. |
(3) | Due to a typographical error, the amount of securities beneficially owned by Sabnani IRA after the transaction was originally reported as 106,800 shares of Common Stock. The correct amount of securities beneficially owned by Sabnani IRA after the transaction is 70,445 shares of Common Stock. All other transactions remain the same. |