SEC Form 4 · accession 0001179110-15-014440
AXT INC · AXTI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Morris S Young
Officer — Chief Executive Officer · Director
Period of report
Nov 2, 2015
Accepted (ET)
Nov 4, 2015 · 2:56 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001051627
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Nov 2, 2015 | A | 120,000 | $0.00 | A | 1,025,239 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionF3 | $2.18 | Nov 2, 2015 | A | 360,000 | A | Nov 2, 2016 | Nov 2, 2025 | common stock | 360,000 | 1,066,896 | D |
Explanation of responses
- F1Represents grant of restricted stock award, which vests in four equal annual installments on each anniversary of the date of grant, subject to the holder continuing to be a service provider through each such date.
- F2This total includes 581,951 shares of common stock held by the Young Family Trust for which the Reporting Person serves as trustee and 483 shares of common stock held by the Morris Young Family Ltd. Partnership. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
- F31/4th of the total number of shares subject to the option will vest on first year anniversary of the date of grant, and an additional 1/48th of the total number of shares subject to the option will vest each month thereafter, subject to the optionee continuing to be a service provider through each such date.