SEC Form 4 · accession 0001144204-17-023948
Fabric.AI, Inc. · FABC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David R Allen
Officer — CFO
Period of report
Apr 28, 2017
Accepted (ET)
May 2, 2017 · 4:17 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001086745
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 Option (right to purchase)F1 | $1.35 | Apr 28, 2017 | A | 175,000 | A | Apr 28, 2017 | Apr 28, 2027 | Common Stock | 175,000 | 595,000 | D |
Explanation of responses
- F1The options were granted under the WPCS International Incorporated 2014 Equity Incentive Plan. 75,000 options vested immediately upon granting, and 100,000 options will vest upon the Issuer closing on a merger or acquisition transaction by the date of the next annual meeting of the shareholders. In addition, all 595,000 options owned by the Reporting Person are subject to a lock up agreement which will expire on the earlier of December 30, 2017 and a change in control of the Issuer.