SEC Form 4/A · accession 0001493152-18-003468
Professional Diversity Network, Inc. · IPDN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Maoji Wang
Officer — Chief Executive Officer · Director
Period of report
Mar 9, 2017
Accepted (ET)
Mar 16, 2018 · 12:15 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001546296
Table I — non-derivative securities
No Table I lines on this filing.
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,F2 | $10.72 | Mar 9, 2017 | A | 210,000 | A | — | Mar 8, 2027 | Common Stock | 210,000 | 210,000 | D |
Explanation of responses
- F1This is an amendment of the Form 4 filed by the reporting person on April 14, 2017. The options were granted to the reporting person pursuant to the Employment Agreement between the Company and the reporting person, which was executed on March 9, 2017 but was retroactively effective as of December 22, 2016 for purposes of base compensation. In connection with the approval of the Employment Agreement, the Board also granted to the reporting person subject to shareholder approval of the amendment to the Company's 2013 Equity Compensation Plan. Shareholder approval was obtained on June 26, 2017. As a result, the Options were effectively granted as of March 9, 2017 with an exercise price equal to $10.72 per share, the closing price of the Company's stock on March 9, 2017.
- F2The options vest in accordance with the following schedule: (i) 1/3 of the shares underlying the option vested immediately on the date of grant (which is March 9, 2017), (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.