SEC Form 4 · accession 0001144204-16-093060
XWELL, Inc. · XWEL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Andrew D Perlman
Officer — Chief Executive Officer · Director
Period of report
Apr 4, 2016
Accepted (ET)
Apr 6, 2016 · 5:27 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001410428
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 OptionF1 | $1.55 | Apr 4, 2016 | A | 800,000 | A | — | Apr 4, 2026 | Common Stock | 800,000 | 800,000 | D |
Explanation of responses
- F1The stock option vests in equal quarterly installments over a three-year period, with the first vesting date on June 30, 2016. The option is subject to certain restrictions on exercise until the Issuer's stockholders have approved (i) an increase in the number of shares of common stock authorized under the Issuer's 2012 Employee, Director and Consultant Equity Incentive Plan (or successor plan) (the "Equity Plan"), and (ii) an increase of the number of stock options that may be issued to any participant under the Equity Plan in any fiscal year. If such stockholder approval is not obtained on or prior to December 31, 2016, the stock option will be cancelled and be of no further effect.