SEC Form 4 · accession 0001144204-17-012475
Net Element, Inc. · NETE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven Wolberg
Officer — Chief Legal Officer
Period of report
Feb 28, 2017
Accepted (ET)
Mar 2, 2017 · 3:08 pm EST
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 | Feb 28, 2017 | A | 60,466 | — | A | 275,467 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options to Purchase Shares of Common StockF2,F3 | $0.813 | Feb 28, 2017 | A | 120,000 | A | — | Feb 28, 2027 | Options to Purchase Shares of Common Stock | 120,000 | 322,858 | D |
Explanation of responses
- F1Net Element, Inc. awarded to Steven Wolberg, Chief Legal Officer of the Company, 60,466 Restricted Shares (as defined in the Company's 2013 Equity Incentive Plan, as amended (the "Plan"), vesting as follows: (i) 50% of such shares vest on the grant date, and (ii) the balance 50% of such shares vest quarterly in 4 equal proportions over a period of 4 quarters.
- F2Net Element, Inc. awarded 120,000 options to purchase shares of common stock to Steven Wolberg pursuant to the terms of the Plan.
- F3Options vest as follows: (i) 50% of the option shares vest on the grant date, and (ii) the balance 50% of the option shares vest quarterly in 4 equal proportions over a period of 4 quarters.