SEC Form 4 · accession 0001213900-16-017955
SG BLOCKS, INC. · SGBX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Paul M. Galvin
Officer — CEO · Director
Period of report
Jun 30, 2016
Accepted (ET)
Nov 3, 2016 · 6:30 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001023994
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Jun 30, 2016 | J | 30,432 | $0.00 | A | 30,432 | I | By Tag Partners, LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (right to buy)F3,F5 | $1.00 | Nov 1, 2016 | A | 40,000 | A | — | Oct 31, 2026 | Common Stock | 40,000 | 40,000 | D |
| Stock Options (right to buy)F6,F8 | $0.01 | Nov 1, 2016 | A | 294,819 | A | — | Oct 31, 2026 | Common Stock | 294,819 | 294,819 | D |
Explanation of responses
- F1These securities were acquired pursuant to the Issuer's Amended Plan of Reorganization, approved by the U.S. Bankruptcy Court for the Southern District of New York on May 23, 2016 (the "Plan").
- F2Shares are held by Tag Partners, LLC, of which Paul Galvin is a managing member and in which he has a controlling interest. As a result, Mr. Galvin may be deemed to beneficially own the shares of common stock owned by Tag Partners, LLC. Mr. Galvin specifically disclaims beneficial ownership of the shares of common stock held by Tag Partners, LLC, except to the extent of his pecuniary interest therein, and this filing shall not be deemed to be an admission that Mr. Galvin is the beneficial owner of such shares of common stock.
- F3The options are exercisable at the greater of $1.00 and fair market value, which will be determined within 90 days of the date of grant.
- F4The options were issued pursuant to the Issuer's Stock Option Plan.
- F5The options vest, subject to the Reporting Person's continued role as a director, in equal installments of 10,000 shares of underlying common stock on the last day of each fiscal quarter following the date of grant until the options are 100% vested.
- F6The options are exercisable at the greater of $0.01 and fair market value, which will be determined within 90 days of the date of grant.
- F7The options were issued pursuant to the Plan under the Issuer's Stock Option Plan.
- F8131,031 of the underlying shares have vested as of the date of grant and 54,596 underlying shares vest, subject to the Reporting Person's continued employment, on each of the first, second and third anniversary of the date of grant.
Remarks
*** The Issuer currently intends to apply for quotation or listing under this symbol in the future.