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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 | ||||||||
Non-Qualified Stock Option (2) | $ 2.54 | 05/25/2011 | A | 25,000 | 05/25/2012 | 05/25/2013 | Common Stock | 25,000 | $ 0 | 25,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Li Zhilin UNIT 8, D AREA OFFICE HALL HAIKOU BONDED ZONE HAIKOU, F4 570216 |
X | X | President and CEO |
/s/ Zhilin Li | 05/27/2011 | |
**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) | (1) On May 25, 2011, the reporting person was granted 75,000 shares of restricted stock under the Issuer?s 2010 Long-term Incentive Plan (the ?2010 Incentive Plan?), of which (i) 50,000 shares shall vest on May 25, 2012, and (ii) 25,000* shares shall vest upon the achievement of certain performance-based vesting criteria. * Because the second tranche of 25,000 shares of restricted stock are subject to performance-based vesting criteria which has not yet been achieved, such shares are not reported in Table I of this Form 4. |
(2) | (2) On May 25, 2011, the reporting person was granted non-qualified stock options to purchase 50,000 shares of common stock under the 2010 Incentive Plan, of which (i) 25,000 shares shall vest on May 25, 2012; and (ii) 25,000* shall vest upon the achievement of certain performance-based vesting criteria. * Because the second tranche of options to purchase 25,000 shares of common stock are subject to performance-based vesting criteria which has not yet been achieved, such options are not reported in Table II of this Form 4. |