SEC Form 4 · accession 0001437749-18-012791
LEARNING TREE INTERNATIONAL, INC. · LTRE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David W Asai
Officer — Chief Financial Officer
Period of report
Jun 29, 2018
Accepted (ET)
Jul 2, 2018 · 4:08 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Incentive Stock Option (right to buy)F1,F2,F3 | $1.35 | Jun 29, 2018 | A | 50,000 | A | — | Jun 29, 2023 | Common Stock | 50,000 | 50,000 | D |
Explanation of responses
- F1Exercise price is equal to the mean of the high and low bids of the Company's common stock on the OTCQX on the date of grant.
- F2The reporting person received 50,000 incentive stock options (ISOs) granted under the Learning Tree International, Inc. Equity Incentive Plan.
- F310% of the incentive stock options granted vested on the date of grant (June 29, 2018) with the subsequent vesting of 30% of the incentive stock options vesting on each of the one-year, two-year and three-year anniversary of the date of grant, contingent upon continued employment.