SEC Form 4 · accession 0001437749-15-018249
LEARNING TREE INTERNATIONAL, INC. · LTRE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard Spires
Officer — Chief Executive Officer · Director
Period of report
Oct 7, 2015
Accepted (ET)
Oct 9, 2015 · 4:00 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001002037
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F2,F1,F3 | $1.248 | Oct 7, 2015 | A | 500,000 | A | — | Oct 7, 2025 | Common Stock | 500,000 | 500,000 | D |
Explanation of responses
- F1Exercise price is equal to the average closing price for the five trading days prior to the date of grant.
- F2The reporting person received 300,000 incentive stock options (ISOs) and 200,000 nonqualified stock options (NQOs) for a total of 500,000 options. All stock options have the same exercise price and vesting schedule.
- F3The options vest in four equal annual installments of 125,000 options (75,000 ISOs and 50,000 NQOs) on 10/7/2016, 10/7/2017, 10/7/2018 and 10/7/2019.