SEC Form 4 · accession 0001144204-15-053248
Searchlight Minerals Corp. · SRCH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).
Reporting owner
Martin B Oring
Officer — CEO and President · Director
Period of report
Aug 28, 2015
Accepted (ET)
Sep 1, 2015 · 4:17 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001084226
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OPTIONSF1,F4,F2,F3 | $0.50 | Aug 28, 2015 | A | 2,000,000 | A | Dec 19, 2015 | Dec 19, 2020 | Common Stock | 2,000,000 | 2,000,000 | I |
Explanation of responses
- F1Reflects the issuance of options to purchase up to 2,000,000 shares of common stock on August 28, 2015 for services provided as a director and officer of Searchlight Minerals Corp.
- F2The per share exercise price shall be equal to the greater of: (i) $0.50; and (ii) the fair market value of Searchlight Minerals Corp.'s common stock based on the closing price on December 18, 2015.
- F3The options shall vest and become exercisable, in whole or in part, from and after December 19, 2015, so long as the holder has continually provided services to Searchlight Minerals Corp. in the same capacity from the date of issuance through December 19, 2015.
- F4These securities are held by Wealth Preservation, Defined Benefit Plan, of which Mr. Martin Oring and Mrs. Olivia Oring are sole beneficiaries and trustees, and in such capacity are deemed to hold voting and dispositive power over the securities held by the Wealth Preservation Defined Benefit Plan. Mrs. Olivia Oring is Mr. Oring's wife.