SEC Form 4 · accession 0001144204-18-012604
Fabric.AI, Inc. · FABC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Newman
Officer — See Remarks · Director · 10% Owner
Period of report
Feb 28, 2018
Accepted (ET)
Mar 2, 2018 · 5:20 pm EST
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF1,F2 | — | Feb 28, 2018 | A | 733,929 | A | Jan 30, 2019 | Feb 28, 2028 | Common Stock | 733,929 | 733,929 | D |
Explanation of responses
- F1Each restricted stock unit represents the right to receive one share of the Issuer's common stock.
- F2The securities vest on the one-year anniversary of the date on which DropCar, Inc., formerly known as WPCS International Incorporated (the "Company"), completed its business combination with DropCar, Inc. ("Private DropCar") in accordance with the terms of the Agreement and Plan of Merger and Reorganization, dated as of September 6, 2017, as subsequently amended, by and among the Company, DC Acquisition Corporation ("Merger Sub"), and Private DropCar (as amended, the "Merger Agreement"), pursuant to which Merger Sub merged with and into Private DropCar, with Private DropCar surviving as a wholly owned subsidiary of the Company (the "Merger").
Remarks
Title - Secretary, Treasurer, Chief Business Development Officer