SEC Form 4 · accession 0001213900-16-018697
INTELLIGENT PROTECTION MANAGEMENT CORP. · IPM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Judy Krandel
Officer — Chief Financial Officer
Period of report
Nov 15, 2016
Accepted (ET)
Nov 17, 2016 · 4:04 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001355839
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F1,F2 | $0.13 | Nov 15, 2016 | A | 5,000,000 | A | May 15, 2017 | Nov 14, 2026 | Common Stock | 5,000,000 | 5,000,000 | D |
Explanation of responses
- F1The stock option was granted pursuant to a stock option agreement dated November 15, 2016 (the "Option Agreement"). The shares underlying this stock option will vest and become exercisable in four (4) equal installments, with the first tranche vesting on the earlier of (i) the six (6) month anniversary of the date of grant or (ii) the termination of the reporting person's employment without cause, and the remaining three tranches vesting on one (1) year intervals thereafter as long as the reporting person is providing services to the issuer on such date.
- F2However, upon the effective date of a "change in control" (as defined in the Snap Interactive, Inc. 2016 Long-Term Incentive Plan), 50% of the then-unvested shares immediately will vest on the date of the change in control and the remaining 50% of the then-unvested shares will vest on the earlier of (i) the original date such shares would have vested or (ii) the first and second anniversaries of the date of the change in control in equal installments, in each case subject to the terms and conditions of the Option Agreement.