SEC Form 4 · accession 0001161697-15-000558
GROWLIFE, INC. · PHOT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark E Scott
Officer — Consulting CFO
Period of report
Dec 18, 2015
Accepted (ET)
Dec 22, 2015 · 4:12 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001161582
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Dec 18, 2015 | J | 3,000,000 | $0.01 | A | 3,000,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option to purchase Common StockF1 | $0.01 | holding | — | — | — | — | Jun 30, 2019 | Common Stock | 10,000,000 | 10,000,000 | D |
| Option to purchase Common StockF2 | $0.01 | holding | — | — | — | — | Jun 30, 2019 | Common Stock | 2,000,000 | 12,000,000 | D |
| Option to purchase Common StockF3 | $0.01 | holding | — | — | — | — | Jun 30, 2019 | Common Stock | 2,000,000 | 14,000,000 | D |
| Option to purchase Common StockF4 | $0.01 | holding | — | — | — | — | Jun 30, 2019 | Common Stock | 2,000,000 | 16,000,000 | D |
Explanation of responses
- F1The Date Exercisable varies with the Option vesting dates. Option shares vest monthly over 3 years beginning one month after the 07/01/2014 Vesting Commencement Date. One thirty-sixth (1/36th) or 277,778 option shares will vest monthly. Option has a 5 year life and cashless exercise.
- F2The Date Exercisable varies with the Option vesting date. Option shares vest immediately upon securing a market maker resulting in the Issuer's relisting on OTCBB. Option has a 5 year life and cashless exercise.
- F3The Date Exercisable varies with the Option vesting date. Option shares vest immediately upon successful approval and effectiveness of the Issuer's Form S-1. Option has a 5 year life and cashless exercise.
- F4The Date Exercisable varies with the Option vesting date. Option shares vest immediately upon the Issuer's resolution of the class action lawsuit. Option has a 5 year life and cashless exercise. This was earned as of August 17, 2015.
- F5Shares issued for conversion of $30,000 debt.
Remarks
On 12-18-2015, the Exercise Price of the Options to purchase Common Stock is adjusted to $0.01 per share.