SEC Form 4 · accession 0001144204-15-053261
Searchlight Minerals Corp. · SRCH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jordan Estra
Director
Period of report
Aug 28, 2015
Accepted (ET)
Sep 1, 2015 · 4:22 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 | 250,000 | A | Dec 19, 2015 | Dec 19, 2020 | Common Stock | 250,000 | 250,000 | I |
Explanation of responses
- F1Reflects the issuance of options to purchase up to 250,000 shares of common stock on August 28, 2015 for services provided as a non-employee director 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.
- F4Mr. Estra is the President of the Ophir Consulting Group, Inc., a Florida corporation. Mr. Estra owns all of his securities jointly with his wife.