SEC Form 4 · accession 0001144204-15-055105
Net Element, Inc. · NETE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).
Reporting owner
Oleg Firer
Officer — CEO · Director
Period of report
Sep 11, 2015
Accepted (ET)
Sep 15, 2015 · 6:43 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001499961
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Restricted Shares of Common StockF2 | Sep 11, 2015 | J | 2,142,857 | $0.14 | A | 2,142,857 | I | By: Star Equities, LLC |
| Restricted Shares of Common Stock | holding | — | — | — | 3,180,655 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Options of Common StockF3,F2 | $0.22 | Sep 11, 2015 | J | 2,142,857 | A | Sep 11, 2015 | Sep 11, 2020 | Restricted Shares of Common Stock | 2,142,857 | 2,142,857 | I |
| Incentive Stock OptionsF4 | $1.34 | holding | — | — | — | — | Dec 10, 2014 | Common Stock | 200,000 | 200,000 | D |
Explanation of responses
- F1Net Element, Inc. issued 2,142,857 restricted shares of common stock to Star Equities, LLC pursuant to the terms of that certain Letter Agreement, dated as of September 11, 2015 (the "Letter Agreement"), with respect to equity funding of Net Element, Inc. by Star Equities, LLC and certain other investors parties thereto.
- F2Oleg Firer is a managing member of Star Equities, LLC. Mr. Firer disclaims beneficial ownership of the securities held by Star Equities, LLC except to the extent of his pecuniary interest in such securities.
- F3Option exercise price per share. Options are issued pursuant to the terms of the Letter Agreement.
- F4The incentive stock options to purchase 200,000 shares of common stock at an exercise price of $1.34 per share, as described under the Company's 2013 Equity Compensation Plan, are subject to vesting quarterly, starting January 1, 2015.