SEC Form 4 · accession 0001534122-15-000045
IRELAND INC. · IRLD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Z Strickler Jr.
Officer — Chief Operating Officer
Period of report
Apr 1, 2015
Accepted (ET)
Apr 8, 2015 · 8:52 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001166338
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to Buy) | $0.40 | Apr 1, 2015 | A | 75,000 | A | Apr 1, 2015 | Mar 31, 2020 | Common Stock | 75,000 | 75,000 | D |
| Stock Options (Right to Buy) | $0.40 | Apr 1, 2015 | A | 75,000 | A | Jun 30, 2015 | Jun 30, 2020 | Common Stock | 75,000 | 75,000 | D |
| Stock Options (Right to Buy) | $0.40 | Apr 1, 2015 | A | 75,000 | A | Sep 30, 2015 | Sep 30, 2020 | Common Stock | 75,000 | 75,000 | D |
| Stock Options (Right to Buy) | $0.40 | Apr 1, 2015 | A | 75,000 | A | Dec 31, 2015 | Dec 31, 2020 | Common Stock | 75,000 | 75,000 | D |
| Stock Options (Right to Buy)F1 | $0.40 | Apr 1, 2015 | A | 150,000 | A | — | — | Common Stock | 150,000 | 150,000 | D |
| Stock Options (Right to Buy)F2 | $0.40 | Apr 1, 2015 | A | 150,000 | A | — | — | Common Stock | 150,000 | 150,000 | D |
Explanation of responses
- F1Options will vest on the date that the Issuer completes the re-assay of all 35 drill holes completed during the Issuer's 2007-2010 drill programs and located within the North and South Sand Zones of the Columbus Project, provided that these options shall not vest unless (a) the re-assaying program is completed on or before Dec. 31, 2015; and (b) the average grade among all of the re-assayed drill samples is significantly greater than the average grade of the original assays for the same samples. Whether any increase in average grade is significant, and the date that the above vesting conditions have been satisfied, if at all, shall be as determined by the independent directors of the Issuers, acting reasonably. If these options do not vest on or before Dec. 31, 2015, the expiration date for these options shall be Dec. 31, 2015. If these options vest on or before Dec. 31, 2015, the expiration date for these options shall be the 5th year anniversary of the particular vesting date.
- F2Options will vest on the first date after the grant date that the closing price for the Issuer's common stock (as quoted by the principal market or exchange on which such shares trade) exceeds $1.20 per share for 20 consecutive trading days, expiring on the 5th year anniversary of the vesting date.
Remarks
The filing of this statement shall not be deemed an admission that the Reporting Person is the beneficial owner of any of the equity securities listed in this statement for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise.