SEC Form 4 · accession 0001455926-17-000019
IRONCLAD ENCRYPTION Corp · IRNC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James D McGraw
Officer — President / CEO · Director · 10% Owner
Period of report
Aug 24, 2017
Accepted (ET)
Sep 6, 2017 · 5:31 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001455926
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Call Options (Obligation to Sell)F1 | $0.15 | Aug 24, 2017 | S | 10 | D | Aug 24, 2017 | Aug 24, 2020 | Class A, Common Stock | 500,000 | 10 | D |
Explanation of responses
- F1The option holder is entitled to purchase 50,000 shares of Class A Common Stock from the reporting person for each $500,000 of Class A Common Stock purchased by the option holder from Ironclad Encryption Corporation (IRNC) pursuant to an equity line of credit agreement up to a maximum amount available for purchase from IRNC of $5,000,000 (i.e., the maximum number of shares that may be purchased from the reporting person if all $5,000,000 is purchased from IRNC by the option holder pursuant to the equity line of credit arrangement is 500,000).