SEC Form 4 · accession 0001541520-17-000003
WALKER INNOVATION INC. · WLKR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sharon R Barner
Director
Period of report
Mar 20, 2017
Accepted (ET)
Mar 22, 2017 · 9:55 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,F2 | $4.05 | Nov 15, 2013 | D | 50,000 | D | — | Nov 15, 2023 | Common Stock | 50,000 | 0 | D |
| Stock Option (Right to Buy)F1,F2 | $0.43 | Mar 20, 2017 | A | 50,000 | A | — | Nov 15, 2023 | Common Stock | 50,000 | 50,000 | D |
| Stock Option (Right to Buy)F3,F4 | $1.40 | May 15, 2015 | D | 25,000 | D | — | May 15, 2025 | Common Stock | 25,000 | 0 | D |
| Stock Option (Right to Buy)F3,F4 | $0.43 | Mar 20, 2017 | A | 25,000 | A | — | May 15, 2025 | Common Stock | 25,000 | 25,000 | D |
Explanation of responses
- F1The transaction reported herein reflects a repricing of options (the "Repricing") that was approved by Walker Innovation Inc. stockholders on January 17, 2017. The stock options were originally granted to the reporting person November 15, 2013. As a result of the Repricing, such options now have a lower exercise price; other than the reduced exercise price, there have been no changes in the terms of such options. However, under Section 16 of the Securities Exchange Act of 1934 and the rules thereunder, a reduction in the exercise price of any option is treated as effectively canceling the old option and granting a new option as of the effective date of the repricing, and thus is being reported accordingly in this Form 4.
- F2Stock option granted pursuant to Amended and Restated 2006 Long-Term Incentive Plan in respect of 16,666 Shares exercisable from and after November 15, 2014; 16,667 Shares exercisable from and after November 15, 2015; and 16,667 Shares exercisable from and after November 15, 2016.
- F3The transaction reported herein reflects a repricing of options (the "Repricing") that was approved by Walker Innovation Inc. stockholders on January 17, 2017. The stock options were originally granted to the reporting person May 15, 2015. As a result of the Repricing, such options now have a lower exercise price; other than the reduced exercise price, there have been no changes in the terms of such options. However, under Section 16 of the Securities Exchange Act of 1934 and the rules thereunder, a reduction in the exercise price of any option is treated as effectively canceling the old option and granting a new option as of the effective date of the repricing, and thus is being reported accordingly in this Form 4.
- F4Stock option grant pursuant the Walker Innovation Inc. (formerly known as Patent Properties, Inc.) 2015 Long-term Incentive Plan in respect of 8,333 Shares exercisable from and after May 15, 2016; 8,333 shares from and after May 15, 2017; and 8,334 Shares from and after May 15, 2018.