SEC Form 3 · accession 0001437749-16-026108
TOWERSTREAM CORP · TWER
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Arthur G Giftakis
Officer — Chief Operating Officer
Period of report
Feb 16, 2016
Accepted (ET)
Feb 26, 2016 · 10:58 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001349437
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 1,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options to Purchase Common StockF1 | $1.31 | holding | — | — | — | — | Sep 25, 2025 | Common Stock | 30,000 | — | D |
Explanation of responses
- F1In September 2015, the Reporting Person was granted options to purchase up to 30,000 shares of common stock of the Issuer pursuant to the Issuer's 2007 Equity Compensation Plan (the "Option"). The Option shall vest and become exercisable in five installments as follows: the first installment to purchase 50% of the common stock underlying the Option, or the right to purchase 15,000 shares of common stock shall vest on September 11, 2016 and the balance of the Option, or the right to purchase 15,000 shares of common stock shall vest in four equal installments on December 11, 2016, March 11, 2017, June 11, 2017 and September 11, 2017, provided that the Reporting Person continues to serve as an employee of the Issuer as of such vesting dates.