SEC Form 4 · accession 0001415889-16-005662
POLARITYTE, INC. · PTE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Brauser
Director · Other
Period of report
Apr 25, 2016
Accepted (ET)
Apr 27, 2016 · 4:55 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001076682
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.001F1,F2 | Apr 25, 2016 | A | 525,000 | — | A | 1,160,886 | D | |
| Common Stock, par value $0.001F3 | holding | — | — | — | 125,000 | I | See Footnote | |
| Common Stock, par value $0.001F4 | holding | — | — | — | 146,684 | I | See Footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OptionF5 | $0.80 | Apr 25, 2016 | A | 525,000 | A | — | Apr 25, 2026 | Common Stock | 525,000 | 525,000 | D |
Explanation of responses
- F1Represents a restricted stock award (the "Restricted Stock Award") under the Issuer's 2016 Equity Incentive Plan. The Restricted Stock Award vests as follows: 50% vested on the grant date of April 25, 2016, and 50% will vest upon the occurrence of a Qualified Acquisition, as defined in the Restricted Stock Award.
- F2Represents (i) the Restricted Stock Award, (ii) 100 shares of common stock held by Michael Brauser, (iii) 235,786 shares of common stock held by Michael Brauser and his wife as tenants by entirety, and (iv) a restricted stock award of 400,000 shares granted pursuant to the 2014 Equity Incentive Plan, which vest at a rate of 1/24 award shares per month beginning September 30, 2015, or upon a Qualified Transaction, as defined in the award.
- F3Represents 125,000 shares of common stock held by the Betsey & Michael Brauser Charitable Foundation, of which Michael Brauser is Chairman and over whose securities he holds voting and dispositive power.
- F4Represents 146,684 shares of common stock held by Grander Holdings, Inc. 401K, of which Michael Brauser is Trustee and over whose securities he holds voting and dispositive power.
- F5Represents an option award under the Issuer's 2016 Equity Incentive Plan. The options vest as follows: 50% vested on the grant date of April 25, 2016, and 50% vest upon the occurrence of a Qualified Acquisition, as defined in the award.