SEC Form 4 · accession 0001437749-17-015795
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
Sep 6, 2017
Accepted (ET)
Sep 8, 2017 · 3:46 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001084332
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionF1,F4,F2 | $0.13 | Sep 6, 2017 | A | 31,260,505 | A | — | Sep 6, 2027 | Common Stock | 31,260,505 | 60,031,323 | D |
| Stock OptionF1,F4,F3 | $0.13 | Sep 6, 2017 | A | 336,538 | A | — | Sep 6, 2027 | Common Stock | 336,538 | 60,367,861 | D |
Explanation of responses
- F1Stock option granted pursuant to Salon Media Group, Inc. 2014 Stock Plan, filed as an exhibit to Salon Media Group, Inc.'s Form 10-K filed on June 26, 2014.
- F2Mr. Hoffner was granted an option to purchase up to 31,260,505 shares of Common stock on September 6, 2017, which vests as to 25% of the option shares one year from the date of grant and then ratably over the following 36 months (1/48 per month).
- F3Mr. Hoffner was granted an option to purchase up to 336,538 shares of Common Stock on September 6, 2017, which vests fully on the date of grant.
- F4In addition to the options granted on September 6, 2017, Mr. Hoffner also holds 12,654,318 Employee Stock Options granted in 2016, an option to purchase 654,700 shares of Common stock from William Hambrecht on 1/18/2017, and 161,165 shares of Series A Mandatorily Convertible Preferred Stock that will convert into 16,116,500 shares of Common Stock .