SEC Form 4 · accession 0001235974-18-000005
WALKER INNOVATION INC. · WLKR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard J Salute
Director
Period of report
Sep 6, 2018
Accepted (ET)
Sep 7, 2018 · 11:40 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001294649
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 | $0.34 | Sep 6, 2018 | A | 70,000 | A | — | May 10, 2027 | Common Stock | 70,000 | 70,000 | D |
| Stock Option (right to buy)F1 | $0.34 | Sep 7, 2018 | D | 70,000 | D | — | May 10, 2027 | Common Stock | 70,000 | 0 | D |
| Stock Options (right to buy)F2 | $0.43 | Sep 7, 2018 | D | 70,000 | D | — | May 15, 2025 | Common Stock | 70,000 | 0 | D |
Explanation of responses
- F1Stock option granted on May 10, 2017 pursuant to Walker Innovation Inc. (formerly known as Patent Properties, Inc.) 2015 Long-term Incentive Plan in respect of 23,333 shares exercisable from and after May 10, 2018; 23,333 shares exercisable from and after May 10, 2019; and 23,334 shares exercisable from and after May 10, 2020. In connection with the Plan of Complete Liquidation and Dissolution of the Company, on September 6, 2018 (the day immediately prior to the filing of the Company's Certificate of Dissolution with the State of Delaware), unvested options under this grant were vested in full and, on a date to be determined by the Company's Board of Directors, will be settled in cash in an amount equal to the difference between the exercise price and the aggregate liquidating distributions paid to the Company's stockholders in accordance with the Plan of Complete Liquidation and Dissolution.
- F2Stock option granted pursuant to Walker Innovation Inc. (formerly known as Patent Properties, Inc.) 2015 Long-term Incentive Plan in respect of 23,333 shares exercisable from and after May 15, 2016; 23,333 shares from and after May 15, 2017; and 23,334 shares from and after May 15, 2018. In connection with the Plan of Complete Liquidation and Dissolution of the Company, on a date to be determined by the Company's Board of Directors, options under this grant will be settled in cash in an amount equal to the difference between the exercise price and the aggregate liquidating distributions paid to the Company's stockholders in accordance with the Plan of Complete Liquidation and Dissolution.