SEC Form 4 · accession 0001192482-17-000297
SITO MOBILE, LTD. · SITO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Jon Blanche
Officer — Chief Technology Officer
Period of report
Nov 30, 2017
Accepted (ET)
Dec 6, 2017 · 4:19 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001157817
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Nov 30, 2017 | A | 75,000 | — | A | 75,000 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The restricted stock units ("RSUs") will vest with respect to (A) 20% of such RSUs in the event the average closing price of SITO Mobile, Ltd.'s (the "Issuer") common stock is at least $7.00 per share for 65 consecutive trading days, (B) an additional 30% of such RSUs in the event the average closing price of the Issuer's common stock is at least $10.00 per share for 65 consecutive trading days and (C) the remaining 50% of such RSUs in the event the average closing price of the Issuer's common stock is at least $15.00 per share for 65 consecutive trading days. RSUs may be settled in common stock or cash, at the election of the Issuer.
- F2Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock.