SEC Form 4 · accession 0001181431-15-008279
Turtle Beach Corp · TBCH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Juergen M. Stark
Officer — Chief Executive Officer & Pres · Director
Period of report
May 20, 2015
Accepted (ET)
Jun 12, 2015 · 5:23 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001493761
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)F2,F1 | $5.59 | May 20, 2015 | D | 2,422,740 | D | — | Sep 3, 2022 | Common Stock | 2,422,740 | 0 | D |
| Stock Option (Right to Buy)F2,F3 | $1.93 | May 20, 2015 | A | 1,863,646 | A | — | Sep 3, 2022 | Common Stock | 1,863,646 | 1,863,646 | D |
| Stock Option (Right to Buy)F4 | $1.81 | May 29, 2015 | A | 280,000 | A | — | May 29, 2025 | Common Stock | 280,000 | 280,000 | D |
Explanation of responses
- F125% of the underlying shares vested on the first anniversary of the original grant date, with the remainder scheduled to vest in equal monthly installments on the first day of each month until the fourth anniversary of the original grant date.
- F2On May 20, 2015, the issuer cancelled, pursuant to the issuer's option exchange program, an option for 2,422,740 shares of HEAR common stock previously granted to the reporting person. In exchange, the reporting person received a replacement option grant for 1,863,646 shares with an exercise price of $1.93 per share.
- F31,242,431 of the underlying shares were vested as of the grant date, and 1/22nd of the remaining underlying shares will vest on the 1st day of each month after the grant date until the option is fully vested.
- F425% of the underlying shares will vest on the first anniversary of the grant date, with the remainder scheduled to vest in equal monthly installments thereafter until the fourth anniversary of the grant date.