SEC Form 4 · accession 0001179110-17-000245
GLU MOBILE INC · GLUU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Nicholas Earl
Officer — President & CEO · Director
Period of report
Jan 3, 2017
Accepted (ET)
Jan 4, 2017 · 4:51 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001366246
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 | $2.00 | Jan 3, 2017 | A | 850,000 | A | — | Jan 2, 2027 | Common Stock | 850,000 | 850,000 | D |
Explanation of responses
- F1On November 14, 2016, the Glu Mobile Inc. ("Glu") Compensation Committee approved an award to Mr. Earl of an option to purchase 1,500,000 shares of Glu's common stock. However, due to a limitation contained in Glu's 2007 Equity Incentive Plan regarding the number of shares that may be awarded to any employee during a calendar year, Glu was only able to award Mr. Earl an option to purchase 650,000 shares of Glu's common stock at such time. Due to such limitation, Glu's Compensation Committee on November 14, 2016 approved a bifurcation of this grant, and Mr. Earl was awarded the 850,000 share balance of his option award on January 3, 2017, the first trading day of 2017.
- F2The option vests and becomes exercisable over four years with 25% of the shares vesting on November 14, 2017 and the remaining shares vest and become exercisable in equal monthly installments thereafter for a period of three years.