SEC Form 4 · accession 0001493152-16-009000
Sunworks, Inc. · SUNW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Tracy M Welch
Officer — Chief Financial Officer
Period of report
Mar 14, 2016
Accepted (ET)
Apr 15, 2016 · 6:02 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001172631
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Restricted SharesF1 | Mar 14, 2016 | J | 38,462 | — | A | 121,385 | 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 StockF2 | $2.68 | Apr 13, 2016 | A | 50,000 | A | — | Apr 13, 2021 | Common Stock | 50,000 | 56,000 | D |
Explanation of responses
- F1On February 1, 2015, the Issuer entered into that certain Restricted Stock Agreement with the Reporting Person pursuant to which the Reporting Person received a grant of 115,385 restricted shares of the Issuer. As a result of the Issuer achieving certain operating results in fiscal year 2015, the Reporting Person was issued 38,462 restricted shares of the Issuer.
- F2On March 28, 2016, the Board of Directors of the Issuer adopted the Issuer's 2016 Equity Incentive Plan ("Equity Incentive Plan"), subject to shareholder approval. On April 13, 2016, the Reporting Person was granted a five-year option to purchase 50,000 shares of the Issuer's common stock ("Common Stock") at an exercise price of $2.68 per share pursuant to the Equity Incentive Plan. The option shall vest in 1/3 increments over a three year period commencing on the date the Issuer receives shareholder approval of the Equity Incentive Plan.