SEC Form 4 · accession 0001179110-16-028038
GLU MOBILE INC · GLUU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Eric R Ludwig
Officer — EVP, COO and CFO
Period of report
Jul 28, 2016
Accepted (ET)
Jul 29, 2016 · 9:14 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001366246
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jul 28, 2016 | M | 8,334 | $1.77 | A | 65,334 | D | |
| Common Stock | Jul 28, 2016 | F | 6,277 | $2.35 | D | 59,057 | D | |
| Common Stock | Jul 28, 2016 | F | 774 | $2.35 | D | 58,283 | D | |
| Common Stock | Jul 28, 2016 | M | 19,804 | $2.03 | A | 78,087 | D | |
| Common Stock | Jul 28, 2016 | F | 17,107 | $2.35 | D | 60,980 | D | |
| Common Stock | Jul 28, 2016 | F | 1,014 | $2.35 | D | 59,966 | D | |
| Common StockF5 | holding | — | — | — | 133,127 | I | Trust |
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)F4 | $1.77 | Jul 28, 2016 | M | 8,334 | D | — | Oct 21, 2016 | Common Stock | 8,334 | 0 | D |
| Stock Option (right to buy)F4 | $2.03 | Jul 28, 2016 | M | 19,804 | D | — | Jan 3, 2017 | Common Stock | 19,804 | 0 | D |
Explanation of responses
- F1Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. These shares were withheld and cancelled by Glu Mobile Inc. ("Glu") at the market price of $2.35 per share less the exercise price of $1.77 to fund the cashless exercise of 8,334 options owned by Mr. Ludwig, which cashless exercise was approved by the board of directors of Glu.
- F2Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. These shares were relinquished by Mr. Ludwig and cancelled by Glu in exchange for Glu's agreement to pay federal and state tax withholding obligations of Mr. Ludwig resulting from the exercise of these options. Mr. Ludwig did not sell or otherwise dispose of any of these shares reported for any reason other than to cover required taxes.
- F3Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. These shares were withheld and cancelled by Glu at the market price of $2.35 per share less the exercise price of $2.03 to fund the cashless exercise of 19,804 options owned by Mr. Ludwig, which cashless exercise was approved by the board of directors of Glu.
- F4The option vested and became exercisable over four years with 25% of the shares vesting and becoming exercisable on October 21, 2011 and the remaining shares vesting and becoming exercisable in equal monthly installments over the following three years, such that the option was fully vested on October 21, 2014.
- F5These shares are held by the Ludwig McKillop Trust, of which the reporting person and his wife, Mary Elizabeth McKillop, are the co-trustees.