SEC Form 4 · accession 0001179110-16-028041
GLU MOBILE INC · GLUU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Benjamin T. Smith IV
Director
Period of report
Jul 28, 2016
Accepted (ET)
Jul 29, 2016 · 9:15 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 | 60,000 | $1.60 | A | 120,000 | D | |
| Common Stock | Jul 28, 2016 | F | 40,851 | $2.35 | D | 79,149 | D |
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)F2 | $1.60 | Jul 28, 2016 | M | 60,000 | D | — | Nov 2, 2016 | Common Stock | 60,000 | 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 $1.60 to fund the cashless exercise of 60,000 options owned by Mr. Smith, which cashless exercise was approved by the board of directors of Glu.
- F2This stock option was immediately exerciseable. The option vested over three years with 16-2/3% of the underlying shares vesting on May 2, 2011, and the remaining underlying shares vesting in equal monthly installments over the following 30 months, such that the option was fully vested on November 2, 2013.