SEC Form 4 · accession 0001493152-17-002707
RIGHTSCORP, INC. · RIHT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Cecil Bond Kyte
Officer — CEO, CFO · Director
Period of report
Mar 20, 2017
Accepted (ET)
Mar 21, 2017 · 8:39 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001506270
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 20, 2017 | A | 5,000,000 | $0.00 | A | 7,000,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options (Right to buy)F1 | $0.05 | Mar 20, 2017 | A | 5,000,000 | A | Mar 20, 2017 | Feb 14, 2027 | Common Stock | 5,000,000 | 5,000,000 | D |
| Options (Right to Buy | $0.05 | Mar 20, 2017 | A | 3,000,000 | A | Mar 20, 2017 | Jun 1, 2020 | Common Stock | 3,000,000 | 3,000,000 | D |
Explanation of responses
- F11,000,000 of such options vest immediately and the remaining 4,000,000 of which will vest monthly in 48 equal monthly installments (each of 83,333 options) commencing on February 14, 2018.
- F2Pursuant to Mr. Kyte's employment agreement, these options were amended to reduce the exercise price to $0.05 and such that any of such options that had not yet vested would vest immediately.