SEC Form 4 · accession 0000899243-15-004830

API Technologies Corp. · ATNY

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — Chief Financial Officer

Period of report

Sep 8, 2015

Accepted (ET)

Sep 15, 2015 · 3:08 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001081078

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1	Sep 8, 2015	A	31,381	$0.00	A	31,381	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Option (Right to Buy)^F2	$2.39	Sep 8, 2015	A	100,000	A	—	Sep 8, 2025	Common Stock	100,000	100,000	D

F1Each restricted stock unit represents a contingent right to receive, upon vesting, one share of API Technologies Corp. (the "Company") common stock. The restricted stock units shall vest and be paid on the earliest of (a) three years from the Effective Date following annual equal vesting, over the three year period; (b) the date the Company terminates Mr. Seeton other than for Cause, as defined in Mr. Seeton's employment agreement with the Company, effective September 8, 2015, filed as Exhibit 10.1 to the Company's Form 8-K filed September 14, 2015 (the "Employment Agreement"); or (c) the date on which Mr. Seeton resigns for Good Reason (as defined in the Employment Agreement).
F2The options shall vest and become fully exercisable on the earliest of (a) three years from the Effective Date following annual equal vesting, over the three year period; (b) the date the Company terminates Mr. Seeton other than for Cause, as defined in the Employment Agreement; or (c) the date on which Mr. Seeton resigns for Good Reason (as defined in the Employment Agreement).