SEC Form 4 · accession 0001553350-18-001349
ASPEN GROUP, INC. · ASPU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph L. Sevely
Officer — Chief Financial Officer
Period of report
Dec 13, 2018
Accepted (ET)
Dec 17, 2018 · 4:15 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001487198
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 Options (Right to Buy)F1,F2 | $7.17 | Dec 13, 2018 | A | 180,000 | A | Dec 13, 2018 | Sep 10, 2023 | Common Stock | 180,000 | 180,000 | D |
Explanation of responses
- F1Pursuant to the Employment Agreement between the Issuer and the Reporting Person, the stock options will vest annually over a three-year period with the first vesting date being September 10, 2019, subject to continued employment on each applicable vesting date.
- F2The option grant was approved by the Issuer's board of directors in September 2018, subject to shareholder approval of the 2018 Equity Incentive Plan (the "Plan") under which the options were granted. The Issuer's shareholders approved the Plan at the annual shareholders' meeting held on December 13, 2018.