SEC Form 4 · accession 0001144204-16-108184
Net Element, Inc. · NETE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Oleg Firer
Officer — Chief Executive Officer · Director · 10% Owner
Period of report
Jun 13, 2016
Accepted (ET)
Jun 14, 2016 · 3:53 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 StockF1,F2 | Jun 13, 2016 | A | 954,172 | — | A | 1,292,238 | D | |
| Restricted Shares of Common StockF2,F3 | holding | — | — | — | 285,715 | I | By: Star Equities, LLC |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Net Element, Inc. (the "Company") awarded to Oleg Firer, Chief Executive Officer of the Company, (i) 5,971,717 restricted shares of Common Stock of the Company (adjusted to 597,172 shares as a result of the reverse stock split of May 25, 2016), in lieu of, and in substitution of, Mr. Firer's previously earned accrued compensation, and (ii) 3,750,000 restricted shares of Common Stock of the Company (adjusted to 375,000 shares as a result of the reverse stock split of May 25, 2016), as bonus. Such awards are not pursuant to the Company's 2013 Equity Incentive Plan (as amended). Such awards are subject to and contingent upon the Company's stockholders' approval, which approval was obtained on June 13, 2016.
- F2As adjusted for a reverse stock split dated as of May 25, 2016.
- F3Oleg 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.