SEC Form 4 · accession 0001181431-15-006842
SPARK NETWORKS INC · LOV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael J McConnell
Director
Period of report
May 8, 2015
Accepted (ET)
May 12, 2015 · 8:32 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001314475
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | May 8, 2015 | A | 25,000 | $0.00 | A | 302,975 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F125,000 shares of restricted common stock in the aggregate were issued pursuant to the Spark Networks, Inc. ("Spark") 2007 Omnibus Incentive Plan and Mr. McConnell's Executive Employment Agreement effective August 12, 2014 (the "Agreement"). Pursuant to the Agreement, Mr. McConnell was eligible for a grant of 25,000 shares of restricted stock at the end of the term of the Agreement upon the discretion of the Board. Such shares shall vest 50% on December 31, 2015 and the remaining 50% on December 31, 2016.
- F2Includes 120,000 restricted common shares, subject to vesting as follows: (i) 85,000 restricted common shares shall vest 50% on December 31, 2015 and the remaining 50% on December 31, 2016, and (ii) 35,000 restricted common shares which shall vest 50% upon January 2, 2016 (i.e., the one year anniversary of the employment date of Michael Egan, Spark's Chief Executive Officer) and the remaining 50% upon January 2, 2017 (i.e., the two year anniversary of the employment of Mr. Egan), subject to certain conditions as set forth in the Agreement.