SEC Form 4 · accession 0001053374-15-000023
IPASS INC · IPAS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patricia Hume
Officer — Chief Commercial Officer
Period of report
Feb 23, 2015
Accepted (ET)
Feb 26, 2015 · 11:55 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001053374
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 23, 2015 | A | 200,000 | $0.00 | A | 200,000 | D | |
| Common Stock | Feb 23, 2015 | P | 10,000 | $0.92 | A | 210,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F2 | $0.90 | Feb 23, 2015 | A | 400,000 | A | — | Feb 23, 2015 | Common Stock | 400,000 | 400,000 | D |
Explanation of responses
- F1Shares are subject to a right of repurchase in the event certain performance metrics are not met.
- F2Twenty-five percent (25%) of the Option vests on February 23, 2016; the balance of the Option vests in a series of thirty-six (36) successive equal monthly installments thereafter.