SEC Form 4/A · accession 0001096906-16-002085
PROFIRE ENERGY INC · PFIE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Brenton W Hatch
Officer — Chief Executive Officer · Director · 10% Owner
Period of report
Nov 2, 2016
Accepted (ET)
Dec 5, 2016 · 1:12 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001289636
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F1,F2 | $1.17 | Nov 2, 2016 | A | 250,000 | A | Nov 2, 2017 | Nov 2, 2019 | Common Stock | 250,000 | 250,000 | D |
Explanation of responses
- F1As previously reported on a Form 4 filed on November 2, 2016 by the reporting person, the reporting person reported acquiring options to purchase 400,000 shares of common stock (the "Option") pursuant to the Company's 2014 Equity Incentive Plan (the "Plan"). However, the Company discovered that, due to an inadvertent error, the Option exceeded by 150,000 shares the Plan's 250,000 share limit on grants under the Plan to any eligible person in a calendar year. Accordingly, the attempted grant of more than 250,000 options was ineffective and was never granted to the reporting person. The reporting person is filing this amendment to report the correct amount of options acquired.
- F2The Option vests in two equal annual installments beginning on November 2, 2017.