SEC Form 5 · accession 0001654954-18-003618
ADVANCED CREDIT TECHNOLOGIES INC · CLOQ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Christopher S. Jackson
Officer — President Secretary Treasurer · Director
Period of report
Dec 31, 2017
Accepted (ET)
Apr 4, 2018 · 11:31 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001437517
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Annual Stock AwardF1 | — | Jul 28, 2017 | A | 100,000 | A | — | — | Common Stock | 100,000 | 5,600,000 | D |
| Incentive Stock Option AwardF4,F2,F3 | — | Jul 28, 2017 | A | 500,000 | A | — | — | Common Stock | 500,000 | 6,100,000 | D |
| Incentive Stock Option AwardF4,F2,F3 | — | Jul 28, 2017 | A | 500,000 | A | — | — | Common Stock | 500,000 | 6,600,000 | D |
| Incentive Stock Option AwardF4,F2,F3 | — | Jul 28, 2017 | A | 500,000 | A | — | — | Common Stock | 500,000 | 7,100,000 | D |
| Incentive Stock Option AwardF4,F2,F3 | — | Jul 28, 2017 | A | 500,000 | A | — | — | Common Stock | 500,000 | 7,600,000 | D |
| Incentive Stock Option AwardF4,F2,F3 | — | Jul 28, 2017 | A | 500,000 | A | — | — | Common Stock | 500,000 | 8,100,000 | D |
| Incentive Stock Option AwardF4,F2,F3 | — | Jul 28, 2017 | A | 500,000 | A | — | — | Common Stock | 500,000 | 8,600,000 | D |
| Incentive Stock Option AwardF4,F2,F3 | — | Jul 28, 2017 | A | 500,000 | A | — | — | Common Stock | 500,000 | 9,100,000 | D |
| Incentive Stock Option AwardF4,F2,F3 | — | Jul 28, 2017 | A | 500,000 | A | — | — | Common Stock | 500,000 | 9,600,000 | D |
| Incentive Stock Option AwardF4,F2,F3 | — | Jul 28, 2017 | A | 500,000 | A | — | — | Common Stock | 500,000 | 10,100,000 | D |
Explanation of responses
- F1Annual Stock Awards are awarded annually starting on 7/28/2018 and will continue to be received annually so long as the Executive is in continuous service to the Company as defined by the Employment Agreement.
- F2Each Incentive Stock Option Award is earned upon the Company achieving increments of $1,000,000 in Gross Revenue (the "milestone") up until the Company achieves $10,000,000 in cumulative Gross Revenue.
- F3Each Incentive Stock Option Award expires 5 years from the date each milestone is achieved.
- F4Strike Price for each Incentive Stock Option Award shall be set at 110% of the average of the closing bid price for the ten days preceding the Company's achievement of each milestone.