SEC Form 4 · accession 0001493152-18-009228
NETSOL TECHNOLOGIES INC · NTWK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jun 25, 2018 | M | 120,000 | $3.88 | A | 498,011 | D | |
| Common StockF1 | Jun 25, 2018 | F | 82,407 | $5.65 | D | 415,604 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options | $3.88 | Jun 25, 2018 | M | 120,000 | D | Jun 30, 2014 | Jun 30, 2018 | Common Stock | 120,000 | 10,962 | D |
Explanation of responses
- F1Reflects 37,593 shares withheld by the Issuer at the market price of $5.65 per share, less an exercise price of $3.88 per share, to fund the cashless exercise of 120,000 options.
Remarks
Certain of the transactions reported above in Table I reflect the cashless exercise of stock options. The cashless exercise for the options is reported in two lines. The first line of the cashless exercise transaction is coded M in column 3 of Table I and reports in column 4 the number of shares issuable upon exercise of the options had cash been paid to exercise the options, together with the exercise price with Code A for acquired. The line coded F in column 3 of Table I relates to the same cashless exercise on the preceding line and reports in Column 4 the number of shares deducted from the total number of shares issuable to pay for the cashless exercise of such options with Code D for disposed. Where the number of shares deducted for cashless exercise is a fraction, the number has been rounded to the nearest whole number of shares. All transactions are exempt from Section 16(b) by reason of Rule 16b-3. The transactions reported in Table II above, reflect the disposition of the same stock options whose cashless exercise is disclosed in Table I above. The number of derivative securities owned after the transactions reported in column 9 of Table II above includes only stock options.