SEC Form 4 · accession 0001144204-16-099137
Arch Therapeutics, Inc. · ARTH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James R Sulat
Director
Period of report
May 3, 2016
Accepted (ET)
May 5, 2016 · 12:42 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001537561
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | May 3, 2016 | A | 30,000 | $0.00 | A | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F3 | $0.39 | May 3, 2016 | A | 130,000 | A | — | May 2, 2026 | Common Stock | 130,000 | 130,000 | D |
Explanation of responses
- F1Of the Shares subject to this grant, all are outside the 2013 Stock Incentive Plan (the "Plan") and 100% shall fully vest on the second anniversary of the date of grant. In addition, in the event of a Change of Control (as such term is defined in the Plan) 100% of grant will immediately vest.
- F2Excludes 727,823 shares owned by the Keyes Sulat Revocable Trust, of which Mr. Sulat and his spouse are the trustees and the members of Mr. Sulat's family are the beneficiaries.
- F3Of the Shares subject to this Grant, 25% shall vest immediately and 1/36 of the remaining shares shall vest on each of the next thirty-six (36) monthly anniversaries of the vesting commencement date.