SEC Form 4 · accession 0001437749-15-000611
ReachLocal Inc · RLOC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sharon T Rowlands
Officer — Chief Executive Officer · Director
Period of report
Jan 9, 2015
Accepted (ET)
Jan 13, 2015 · 4:26 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001297336
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)F2,F1 | $10.30 | Jan 9, 2015 | D | 650,000 | D | — | Mar 31, 2021 | Common Stock | 650,000 | 0 | D |
| Stock Option (Right to Buy)F3 | $6.00 | Jan 9, 2015 | A | 650,000 | A | — | Jan 8, 2022 | Common Stock | 650,000 | 650,000 | D |
| Stock Option (Right to Buy)F2,F1 | $10.30 | Jan 9, 2015 | D | 200,000 | D | — | Mar 31, 2021 | Common Stock | 200,000 | 0 | D |
| Stock Option (Right to Buy)F3 | $6.00 | Jan 9, 2015 | A | 200,000 | A | — | Jan 8, 2022 | Common Stock | 200,000 | 200,000 | D |
Explanation of responses
- F1The shares subject to this option vested according to the following schedule: 12.5% of the total number of shares vested on each of the six-month and one-year anniversaries of the April 1, 2014 vesting start date, and 1/48th of the total number of shares vested monthly thereafter. This stock option would have been completely vested on the fourth anniversary of the vesting start date.
- F2On January 9, 2015, pursuant to the issuer's stock option exchange, the issuer canceled this option and in exchange granted the reporting person a stock option covering the same number of shares with an exercise price of $6.00 per share.
- F3The shares subject to this option vest according to the following schedule: 12.5% of the total number of shares vest on the 6-month anniversary of the January 9, 2015 vesting start date, and the remaining shares vest pro-rata monthly thereafter. This stock option will be completely vested on the fourth anniversary of the vesting start date.