SEC Form 4 · accession 0001062993-17-004459
Leatt Corp · LEAT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Christopher James Leatt
Director · 10% Owner
Period of report
Mar 29, 2016
Accepted (ET)
Oct 16, 2017 · 9:27 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001456189
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.001 per shareF1,F2 | Sep 1, 2016 | F | 31,200 | $1.00 | A | 2,030,114 | I | See footnote 2 |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options to purchase Common Stock, par value $0.001 per shareF3,F4 | $2.60 | Mar 29, 2016 | A | 52,000 | A | Mar 29, 2016 | Mar 28, 2026 | Common Stock, par value $0.001 per share | 52,000 | 200,000 | D |
| Options to purchase Common Stock, par value $0.001 per shareF1,F4 | $1.00 | Sep 1, 2016 | M | 31,200 | D | Feb 1, 2012 | Feb 1, 2017 | Common Stock, par value $0.001 per share | 31,200 | 148,000 | D |
| Options to purchase Common Stock, par value $0.001 per shareF5,F4 | $1.60 | Aug 24, 2017 | A | 52,000 | A | Dec 31, 2017 | Aug 23, 2027 | Common Stock, par value $0.001 per share | 52,000 | 200,000 | D |
Explanation of responses
- F1On February 1, 2012, the Issuer's Board of Directors approved a grant to the Reporting Person, of a 5-year option to purchase 1,300,000 shares of the Issuer's common stock at $0.04 per share under the Issuer's 2011 Plan. After giving effect to the Reverse Split, the Reporting Person had vested options to purchase 52,000 shares of the Company's common stock at $1.00 per share. On September 1, 2016, the Reporting Person exercised his option to purchase all 52,000 shares at an aggregate exercise price of $52,000. The purchase price was paid through a cashless transaction whereby the Issuer withheld 20,800 of the shares and the Reporting person received the remaining 31,200 shares.
- F2Total common stock represents 2,025,107 shares of the Issuer's common stock directly held by the Reporting Person and 5,007 shares of the Issuer's common stock held by members of the Reporting Person's immediate family.
- F3On March 29, 2016, the Issuer's Board of Directors approved a grant to the Reporting Person of a 10-year option to purchase another 52,000 shares of the Issuer's common stock at an exercise price of $2.60 a share under the Issuer's 2011 Plan, 15,600 of which immediately vested and an additional 15,600 of which vested on March 29, 2017. The remaining options to purchase 20,800 shares are scheduled to vest in equal parts on March 29, 2018 and 2019, respectively.
- F4Total derivative securities include options to purchase shares of the Issuer's common stock, held as at the transaction date, and 96,000 shares of the Issuer's preferred stock held by the Reporting Person, convertible to common stock at a rate of 1 share of common stock for each share of preferred stock.
- F5On August 24, 2017, the Issuer's Board of Directors approved a grant to the Reporting Person of another 10-year option to purchase 52,000 shares of the Issuer's common stock at an exercise price of $1.60 a share under the Issuer's 2011 Plan, 20,800 of the options will vest on December 31, 2017 and the remaining options to purchase 15,600 shares and 15,600 shares will vest on December 31, 2018 and 2019, respectively.