SEC Form 4 · accession 0001140361-16-055706
Protea Biosciences Group, Inc. · PRGB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steve Antoline
Director · 10% Owner
Period of report
Apr 14, 2015
Accepted (ET)
Mar 1, 2016 · 12:44 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001335103
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Apr 14, 2015 | J | 363,273 | $0.00 | A | 5,615,503 | I | By Summit Resources, Inc. |
| Common StockF2 | Jun 30, 2015 | J | 193,894 | $0.00 | A | 5,809,397 | I | By Summit Resources, Inc. |
| Common StockF2 | Oct 12, 2015 | J | 244,456 | $0.00 | A | 6,053,853 | I | By Summit Resources, Inc. |
| Common StockF2 | Dec 18, 2015 | A | 100,000 | $0.00 | A | 6,153,853 | I | By Summit Resources, Inc. |
| Common StockF2 | Feb 3, 2016 | J | 165,573 | $0.00 | A | 6,319,426 | I | By Summit Resources, Inc. |
| Common StockF6 | holding | — | — | — | 1,514,048 | I | By Steven A. Antoline 2006 Irrevocable Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Director Stock Option (right to buy)F7 | $0.25 | Dec 18, 2015 | A | 66,667 | A | Dec 1, 2016 | Dec 1, 2025 | Common Stock | 66,667 | 66,667 | D |
Explanation of responses
- F1The Issuer issued 363,273 shares of its Common Stock to Summit Resources, Inc. ("Summit") pursuant to the anti-dilution provisions in those certain Subscription Agreements and Unit Purchase Agreements dated November 1, 2013 and December 30, 2013 entered into by Summit and the Issuer.
- F2Steve Antoline (the "Reporting Person") is the president of Summit and has sole voting and dispositive control over the securities held thereby.
- F3The Issuer issued 193,894 shares of its Common Stock to Summit pursuant to the anti-dilution provisions in those certain Subscription Agreements and Unit Purchase Agreements dated November 1, 2013 and December 30, 2013 entered into by Summit and the Issuer.
- F4On October 12, 2015, the Issuer's Board of Directors authorized the conversion of an aggregate of $49,999.98 of accrued interest on promissory notes issued by the Issuer to Summit, and $11,114.06 of accounts payable by the Issuer to Summit, into shares of Common Stock at a rate of $0.25 per share, resulting in the issuance of 244,456 shares of Common Stock to Summit.
- F5On February 3, 2016, the Issuer's Board of Directors authorized the conversion of an aggregate of $33,333.33 of accrued interest on promissory notes issued by the Issuer to Summit, and $8,060.00 of accounts payable by the Issuer to Summit, into shares of Common Stock at a rate of $0.25 per share, resulting in the issuance of 165,573 shares of Common Stock to Summit.
- F6The Reporting Person is the trustee of the Steven A. Antoline 2006 Irrevocable Trust and has sole voting and dispositive control over the securities held thereby.
- F7The option vests 100% on December 1, 2016.