SEC Form 4 · accession 0001019687-15-001564
Global Future City Holding Inc. · FTCY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael R Dunn
Officer — VP of Finance · Director
Period of report
Apr 17, 2015
Accepted (ET)
Apr 21, 2015 · 4:40 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001164964
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Apr 17, 2015 | D | 9,823,323 | $0.00 | D | 2,253,064 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The issuer closed on the terms of a stock purchase agreement (the "SPA") with Sky Rover Holdings, Ltd. ("Sky Rover") that was previously disclosed in the issuer's Form 8-K filed with the SEC on April 20, 2015. In order for the issuer to meet its closing conditions pursuant to the SPA, the reporting person relinquished/rescinded 9,823,323 shares of the issuer's common stock for no compensation. The relinquished/rescinded shares were returned to the issuer's treasury in order to deliver Sky Rover 30,400,000 shares at closing.
- F2Prior to this transaction, the reporting person had a total of 12,076,387 shares of common stock. After the reporting person's relinquishment/rescission of 9,823,323 shares, the reporting person now has 2,253,064 shares of common stock.