SEC Form 3 · accession 0001640334-17-002499
Generation NEXT Franchise Brands, Inc. · VEND
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Paul Brian Schmidt
Officer — Chief Marketing Officer
Period of report
Nov 20, 2017
Accepted (ET)
Nov 20, 2017 · 6:53 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001526689
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 30,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F1 | $0.36 | holding | — | — | — | — | Jun 10, 2026 | Common Stock | 100,000 | — | D |
| Employee Stock Option (right to buy)F2 | $0.16 | holding | — | — | — | — | Jan 20, 2027 | Common Stock | 75,000 | — | D |
Explanation of responses
- F1This stock option was granted on June 10, 2016 and vests over two years subject to the optionee's continuing to provide services, 50% of the shares subject to the option became immediately exercisable one year after June 10, 2016, and 50% of the shares vest and become exercisable on June 10, 2018.
- F2This stock option was granted on January 20, 2017 and vests subject to management discretion and the optionee's continuing to provide services, 75% of the shares subject to the option became immediately exercisable at management's discretion after January 20, 2017, and 25% of the shares vest and become exercisable at management's discretion.
Remarks
Exhibit 24.1 attached.