SEC Form 4 · accession 0001437749-17-001328
SALON MEDIA GROUP INC · SLNM.OB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jordan Jon Hoffner
Officer — Chief Executive Officer · Director
Period of report
Jan 26, 2017
Accepted (ET)
Jan 30, 2017 · 4:02 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001084332
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Series A Mandatorily Convertible Voting Preferred Stock (a)F1 | Jan 26, 2017 | A | 40,292 | $1.24 | A | 40,292 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option Agreement with Related Party (b)F2,F3 | $0.10 | Jan 18, 2017 | A | 654,700 | A | Jan 18, 2017 | Jan 19, 2027 | Common Stock | 654,700 | 13,309,018 | D |
Explanation of responses
- F1The Series A Mandatorily Convertible Voting Preferred Stock will automatically convert into Common Stock upon the effectiveness of an amendment to the Company's current Restated Certificate of Incorporation authorizing sufficient shares of Common Stock for issuance on the conversion of the Series A Preferred Stock. Following the conversion into Common Stock, the Amount of Beneficially Owned Securities Following Reported Transaction will be 4,029,200.
- F2William Hambrecht, a director at Salon Media Group, granted Jordan Hoffner an option to purchase 654,700 shares of his stock at a price of $0.10.
- F3In addition to the 654,700 options granted by William Hambrecht, Mr. Hoffner has 12,654,318 Employee Stock Options granted under the Salon Media Group, Inc 2014 Stock Incentive Plan.