SEC Form 4 · accession 0001437749-16-033552
Stablecoin Development Corp · SDEV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark M Sieczkarek
Officer — CEO · Director
Period of report
Jun 6, 2016
Accepted (ET)
Jun 8, 2016 · 7:33 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001389545
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 | $2.78 | Jun 6, 2016 | A | 675,000 | A | Jan 31, 2017 | Jun 6, 2026 | Common Stock | 675,000 | 698,248 | D |
Explanation of responses
- F1One-third (1/3) of the shares subject to the Option will vest on January 31, 2017, in direct proportion to the percentage achievement of the stated 2016 corporate goals, as approved and determined by the Board. The remaining two-thirds (2/3) of the shares subject to the Option shall vest in equal parts on January 31, 2018 and 2019, subject to the successful completion of certain performance criteria, to be determined by the Board in January of each year. Should the performance criteria be met, the Option will be fully vested and exercisable on January 31, 2019, subject to Mr. Sieczkarek continuing to be employed by the Company through the relevant vesting dates.