SEC Form 4 · accession 0001062993-17-004465
Leatt Corp · LEAT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sean Macdonald
Officer — CEO and CFO · Director
Period of report
Mar 29, 2016
Accepted (ET)
Oct 16, 2017 · 10:37 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 | Sep 1, 2016 | F | 46,800 | $1.00 | A | 46,800 | D |
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 shareF2,F1 | $2.60 | Mar 29, 2016 | A | 78,000 | A | Mar 29, 2016 | Mar 28, 2026 | Common Stock, par value $0.001 per share | 78,000 | 156,000 | D |
| Options to purchase Common Stock, par value $0.001 per shareF1,F2 | $1.00 | Sep 1, 2016 | M | 78,000 | D | Feb 1, 2012 | Feb 1, 2017 | Common Stock, par value $0.001 per share | 46,800 | 78,000 | D |
| Options to purchase Common Stock, par value $0.001 per shareF3,F2 | $1.60 | Aug 24, 2017 | A | 78,000 | A | Dec 31, 2017 | Aug 23, 2027 | Common Stock, par value $0.001 per share | 78,000 | 156,000 | 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 1,950,000 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 78,000 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 78,000 shares at an aggregate exercise price of $78,000. The purchase price was paid through a cashless transaction whereby the Issuer withheld 31,200 of the shares in lieu of cash payment and the Reporting person received the remaining 46,800 shares.
- F2On March 29, 2016, the Issuer's Board of Directors approved a grant to the Reporting Person of a 10-year option to purchase another 78,000 shares of the Issuer's common stock at an exercise price of $2.60 a share under the Issuer's 2011 Plan, 23,400 of which immediately vested and another 23,400 of which vested on March 29, 2017. The remaining options to purchase 31,200 shares are scheduled to vest in equal parts on March 29, 2018 and 2019, respectively.
- F3On August 24, 2017, the Issuer's Board of Directors approved a grant to the Reporting Person of another 10-year option to purchase 78,000 shares of the Issuer's common stock at an exercise price of $1.60 a share under the Issuer's 2011 Plan, 31,200 of the options will vest on December 31, 2017 and the remaining options to purchase 46,800 shares will vest in equal portions on December 31, 2018 and 2019, respectively.