SEC Form 4 · accession 0001415889-16-005246
SPENDSMART NETWORKS, INC. · SSPC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brett Reid Schnell
Officer — CHIEF FINANCIAL OFFICER
Period of report
Mar 21, 2016
Accepted (ET)
Mar 23, 2016 · 8:30 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001062273
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (option to buy)F1,F2 | $0.12 | Mar 21, 2016 | A | 198,999 | A | — | Mar 21, 2020 | Common Stock | 198,999 | 198,999 | D |
Explanation of responses
- F1The exercise price of the options equals the closing price of the Company's common stock as of March 21, 2016.
- F2On March 21, 2016, the Reporting Person acquired an option to purchase 397,998 shares of the Company's common stock. Fifty percent of the options to purchase vest on the one-year anniversary, the remaining fifty percent vest on the two-year anniversary, and all outstanding options vest upon a change in control of the Issuer.