SEC Form 4 · accession 0001600481-17-000012
WALKER INNOVATION INC. · WLKR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jonathan Siegel
Officer — Chief Executive Officer
Period of report
Mar 20, 2017
Accepted (ET)
Mar 20, 2017 · 4:23 pm 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 | $3.60 | Feb 14, 2014 | D | 425,000 | D | — | Feb 14, 2024 | Common Stock | 425,000 | 0 | D |
| Stock Option (Right to Buy)F1,F2 | $0.43 | Mar 20, 2017 | A | 425,000 | A | — | Feb 14, 2024 | Common Stock | 425,000 | 425,000 | D |
| Stock Option (Right to Buy)F3,F4 | $1.37 | Mar 20, 2015 | D | 75,000 | D | — | Mar 20, 2025 | Common Stock | 75,000 | 0 | D |
| Stock Option (Right to Buy)F3,F4 | $0.43 | Mar 20, 2017 | A | 75,000 | A | — | Mar 20, 2025 | Common Stock | 75,000 | 75,000 | 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 February 14, 2014. 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 the Walker Innovation Inc. (formerly known as Patent Properties, Inc.) 2015 Long-term Incentive Plan in respect of 141,666 shares exercisable from and after February 14, 2015; 141,667 shares exercisable from and after February 14, 2016; and 141,667 shares exercisable from and after February 14, 2017.
- 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 March 20, 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 granted pursuant to the Walker Innovation Inc. (formerly known as Patent Properties, Inc.) 2015 Long-term Incentive Plan in respect of 25,000 shares exercisable from and after February 14, 2016; 25,000 shares exercisable from and after February 14, 2017; and 25,000 shares exercisable from and after February 14, 2018.