SEC Form 4 · accession 0001654954-18-004471
HireQuest, Inc. · HQI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Frederick J Sandford
Other
Period of report
Mar 29, 2018
Accepted (ET)
Apr 27, 2018 · 6:06 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001140102
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 16,250 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionF1 | $5.40 | Mar 29, 2018 | H | 20,833 | D | — | Sep 29, 2027 | Common Stock | 20,833 | 150,000 | D |
| Stock OptionF1 | $2.40 | Mar 29, 2018 | H | 125,000 | D | — | Feb 21, 2023 | Common Stock | 125,000 | 25,000 | D |
| Stock OptionF1 | $8.04 | Mar 29, 2018 | H | 25,000 | D | — | Oct 30, 2020 | Common Stock | 25,000 | 0 | D |
Explanation of responses
- F1(1) Pursuant to the settlement agreement dated March 28, 2018, the Issuer paid to the reporting owner an amount equal to 105% of the value of unexercised options, whether vested or not. Such options were then cancelled. The value of the unexercised options was determined as follows: From the average of the Bid and Asked prices of the Company's common stock quoted on the OTCOB system at the close of business on March 29, 2018, the option exercise price contained in the relevant Stock Option Grant Agreements was subtracted, then the result (not less than zero) was multiplied by the number of unexercised options.