SEC Form 4 · accession 0001493152-17-014242
Professional Diversity Network, Inc. · IPDN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Maoji Wang
Officer — Chief Executive Officer · Director
Period of report
Dec 4, 2017
Accepted (ET)
Dec 6, 2017 · 12:06 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001546296
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.01 | Dec 4, 2017 | P | 10,000 | $4.81 | A | 58,830 | D | |
| Common Stock, par value $0.01 | Dec 4, 2017 | P | 10,000 | $4.70 | A | 68,830 | 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 | $9.99 | holding | — | — | — | — | Dec 22, 2026 | Common Stock | 210,000 | 210,000 | D |
Explanation of responses
- F1The option vests in accordance with the following schedule: (i) 1/3 of the shares underlying the option vested immediately on the date of grant (December 22, 2016), (ii) 1/3 of the shares underlying the option will vest on December 22, 2017, and (iii) 1/3 of the shares underlying the option will vest on December 22, 2018.
Remarks
The reporting person holds a minority equity interest in Cosmic Forward Limited ("CFL"), which directly owns common stock of the Issuer. The reporting person is not a controlling shareholder of CFL and does not have or share investment control over the securities that CFL owns. The reporting person disclaims beneficial ownership of the shares held by CFL except to the extent of his pecuniary interest therein.