SEC Form 4 · accession 0001477932-16-014379
Spotlight Innovation Inc. · STLT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Craig A Lang
Director · 10% Owner
Period of report
Dec 23, 2016
Accepted (ET)
Dec 28, 2016 · 5:11 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001388486
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Dec 23, 2016 | J | 108,000 | $0.00 | A | 108,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options (Right to Buy)F2,F1 | $0.00 | Dec 23, 2016 | J | 75,000 | D | — | — | Common Stock | 75,000 | 0 | D |
Explanation of responses
- F1On February 24, 2016 Reporting person received an option to purchase seventy five thousand (75,000) shares of the Company's Common Stock with an exercise price equal to the closing price on the date prior to the date of the grant. Subject to continued service as a Director, these options will vest one third upon issuance, one third on the one year anniversary of Reporting Person being a member of the Board of Directors, and one third on the second year anniversary of Reporting Person being a member of the Board of Directors. The option will be subject to the terms of the Spotlight Innovation Inc. 2015 Equity Incentive Plan (the "Plan") and the related stock option award agreement issued pursuant to the Plan.
- F2The options were returned to the Company for cancellation in exchange for shares of common stock.