SEC Form 4 · accession 0001209191-15-042577
INVE Technologies, Inc. · INVE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brian Charles Nelson
Officer — CFO
Period of report
May 11, 2015
Accepted (ET)
May 13, 2015 · 9:38 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001036044
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | May 11, 2015 | A | 921 | $10.76 | A | 2,868 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On May 11, 2015, the reporting person became entitled to receive an earn-out payment in the form of shares of common stock which are subject to certain lock-up periods under the terms of the Stock Purchase Agreement entered into on April 29, 2011 between the Registrant and the selling shareholders of idOnDemand, Inc. (the "SPA"). The number of shares issuable pursuant to the SPA was determined on March 12, 2015, pursuant to a formula set forth in the SPA.
- F2For the purpose of determining the number of shares issuable pursuant to the earn-out payment, the Registrant's common stock was valued at $10.7575 per share, based on the average VWAP price for the 30 calendar day period ending immediately prior to the date of the announcement of annual results for fiscal year 2014.