SEC Form 4 · accession 0001213900-16-018557
SITO MOBILE, LTD. · SITO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gerard Francis Hug
Officer — CEO · Director
Period of report
Nov 9, 2016
Accepted (ET)
Nov 14, 2016 · 7:57 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001157817
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options to Purchase Common StockF1,F2 | $3.51 | Nov 18, 2015 | A | 138,419 | A | — | Nov 18, 2020 | Common Stock | 138,419 | 589,009 | D |
Explanation of responses
- F1In November 2015, the Reporting Person was granted options to purchase up to 150,000 shares of common stock of the Issuer which grant was previously reported by the Reporting Person. The options were granted as performance options with the number of options earned and received by the Reporting Person dependent upon the achievement of certain corporate goals set by the Compensation Committee of the Issuer. On November 9, 2016, the Board, based upon the recommendation of the Issuer's Compensation Committee, determined that the Reporting Person earned options to purchase 138,419 shares of common stock of the Issuer out of the 150,000 that were initially granted based upon the achievement of the corporate goals set in November 2015.
- F2The options vest and are exercisable in 1/3 increments over a three year period. The first installment vested on November 18, 2015, the date of the grant. The Reporting Person agreed to forfeit and cancel the option with respect to 11,581 shares of the Issuer's common stock granted to the Reporting Person in November 2015.