SEC Form 5 · accession 0001144204-16-082389
TARONIS TECHNOLOGIES, INC. · MNGA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Luisa Ingargiola
Officer — Chief Financial Officer · Director
Period of report
Dec 31, 2015
Accepted (ET)
Feb 16, 2016 · 2:04 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001353487
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option to Purchase Common StockF2 | $0.72 | Feb 12, 2015 | A | 100,000 | A | — | Feb 12, 2020 | Common Stock | 100,000 | 400,000 | D |
Explanation of responses
- F1On February 12, 2015, the Board of Directors of the Issuer (the "Board") approved the granting to the Reporting Person of an option to purchase 100,000 shares of the Issuer's common stock. The Issuer granted the option to the Reporting Person on the same date. The vesting schedule was to be determined by the Board based on the Issuer's achievement of predetermined performance criteria.
- F2On August 26, 2015, the Board signed resolutions whereby they agreed that the Issuer had achieved 55% of the pre-determined performance criteria and that the Reporting Person should immediately vest in 55% of the options. This meant that the Reporting Person had vested in the option to purchase 55,000 shares. On January 29, 2016, the Board had a telephonic meeting whereby they agreed that the Issuer had achieved another 40% of the pre-determined performance criteria (for a total of 95%) and that the Reporting Person should immediately vest in an additional 40% of the options. This meant that the Reporting Person had vested in the option to purchase another 40,000 shares (for a total of 95,000 shares). The Reporting Person has not yet vested in 5,000 shares. On February 4, 2016, the Board signed resolutions documenting the decision made at the telephonic board meeting on January 29, 2016.