SEC Form 4 · accession 0001213900-18-008551
LiveOne, Inc. · LVO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael J Bebel
Officer — EVP - Corp Devel & Rights Mgmt
Period of report
Jun 27, 2018
Accepted (ET)
Jun 29, 2018 · 9:30 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001491419
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 Option (Right to Buy)F1,F2,F3 | $4.00 | Jun 27, 2018 | A | 350,000 | A | — | Mar 11, 2028 | Common Stock | 350,000 | 350,000 | D |
Explanation of responses
- F1These options were granted to the Reporting Person effective as of March 11, 2018 pursuant to the approval of the Issuer's board of directors on January 31, 2018. The Issuer was unable to execute the Option Agreement (as defined below) with the Reporting Person until June 27, 2018 due to unintentional administrative delays.
- F2These options were granted to the Reporting Person pursuant to that certain Stock Option Agreement (the "Option Agreement"), dated as of June 27, 2018, and effective as of March 11, 2018 (the "Effective Date"). The options shall vest in three equal increments, with the first tranche of the options vesting on the 12-month anniversary of the Effective Date, with an additional one-third of the options vesting every twelfth month thereafter through the date that is three years after the Effective Date. Each tranche of the options shall become exercisable on the earlier of (i) one year after the date such tranche shall vest, (ii) the second anniversary of the Effective Date, or (iii) the earliest date vested equity awards become exercisable or transferable for similarly situated executives of the Issuer, subject to the terms of the 2016 Plan.
- F3These options expire 10 years from the Effective Date, unless terminated sooner in accordance with the Issuer's 2016 Equity Incentive Plan (the "2016 Plan") or the Option Agreement.