SEC Form 4 · accession 0001553350-16-002106
ECOSPHERE TECHNOLOGIES INC · ESPH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dennis E McGuire
Officer — Chief Executive Officer · Director
Period of report
May 23, 2016
Accepted (ET)
May 25, 2016 · 6:42 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001071760
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 Options (Right to Buy)F1,F2 | $0.34 | May 23, 2016 | D | 6,300,000 | D | — | Apr 25, 2018 | Common Stock | 6,300,000 | 0 | D |
| Stock Options (Right to Buy)F1,F3 | $0.045 | May 23, 2016 | A | 6,300,000 | A | — | Apr 25, 2018 | Common Stock | 6,300,000 | 6,300,000 | D |
| Stock Appreciation RightsF5,F1,F4 | $0.34 | May 23, 2016 | D | 6,300,000 | D | — | Apr 14, 2026 | Common Stock | 6,300,000 | 0 | D |
| Stock Appreciation RightsF5,F1,F4 | $0.045 | May 23, 2016 | A | 6,300,000 | A | — | Apr 14, 2026 | Common Stock | 6,300,000 | 6,300,000 | D |
Explanation of responses
- F1In accordance with Rule 16b-3 of the Securities Exchange Act of 1934, the reporting person agreed to cancellation of securities previously granted to him in exchange for securities having a lower exercise price.
- F2Mr. McGuire agreed not to exercise these options in order to raise additional capital for the issuer to stay operational.
- F3Mr. McGuire agreed not to exercise these options pending an increase in authorized capital.
- F4One-third of the stock appreciation rights vested upon grant. An additional one-third vest on each of December 31, 2016 and December 31, 2017, subject to continued employment as of each applicable vesting date.
- F5At Mr. McGuire's option, the stock appreciation rights are settleable in cash or common stock of the issuer or any subsidiary. If settled in shares of the issuer's subsidiary Sea of Green Systems, Inc., the exercise price shall be fixed at $0.046 per share.