SEC Form 4 · accession 0001660878-16-000011
VirtualScopics, Inc. · VSCP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Eric Timothy Converse
Officer — President and CEO · Director
Period of report
May 10, 2016
Accepted (ET)
May 12, 2016 · 11:16 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001307752
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | May 10, 2016 | D | 7,400 | $4.05 | D | 0 | D | |
| Common Stock | May 10, 2016 | D | 12,110 | $4.05 | D | 0 | I | By Converse & Company 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF1 | $5.10 | May 10, 2016 | D | 2,500 | D | — | Aug 28, 2023 | Common Stock | 2,500 | 0 | D |
| Stock OptionsF1 | $4.10 | May 10, 2016 | D | 87,017 | D | — | Jul 23, 2024 | Common Stock | 87,017 | 0 | D |
| Stock OptionsF1 | $2.43 | May 10, 2016 | D | 87,017 | D | — | Aug 7, 2026 | Common Stock | 87,017 | 0 | D |
Explanation of responses
- F1These options which provided for vesting in four equal annual installments beginning 8/28/13, 7/23/14 and 8/7/16, respectively, were cancelled pursuant to a Merger Agreement between Issuer and Biotelemetry Research Acquisition Corporation, a wholly-owned subsidiary of Biotelemetry, Inc., in exchange for an amount in cash equal to the product of (A) the positive excess, if any, of (1) the Common Merger Consideration over (2) the exercise price per Common Share then in effect in respect of such stock option, and (B) the aggregate number of Common Shares subject to such stock option immediately prior to the effective time of the merger.