SEC Form 4 · accession 0001053374-15-000027
IPASS INC · IPAS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Minhall Chang
Director
Period of report
Feb 22, 2015
Accepted (ET)
Feb 26, 2015 · 9:07 pm 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 22, 2015 | A | 10,000 | $0.00 | A | 85,000 | 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 22, 2015 | A | 30,000 | A | — | Feb 22, 2025 | Common Stock | 30,000 | 30,000 | D |
Explanation of responses
- F1One third of the shares will vest on each of the first, second and third anniversaries of the date of grant.
- F2The options vest in the amount of 10,000 shares on the first anniversary of the grant, with the remainder vesting in equal monthly installments over the subsequent 24 months.