SEC Form 4 · accession 0000899243-16-016551
GI DYNAMICS, INC. · GID
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Scott Schorer
Officer — President and CEO
Period of report
Mar 23, 2016
Accepted (ET)
Mar 24, 2016 · 5:37 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001245791
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 Option (right to buy)F1 | $0.80 | Mar 23, 2016 | A | 250,000 | A | — | Mar 23, 2026 | Common Stock | 250,000 | 250,000 | D |
Explanation of responses
- F1The option vests over a four (4) year period, with one quarter (1/4) of the shares on the one (1) year anniversary of the date of grant, and the remaining shares vesting in equal amounts on a quarterly basis over the following three (3) years until March 23, 2020. In the event of a change of control of the Issuer, the option shall become vested in full.