SEC Form 4 · accession 0001493152-18-005676
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
Apr 19, 2018
Accepted (ET)
Apr 24, 2018 · 11:04 am 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 | $2.82 | Apr 19, 2018 | A | 70,000 | A | — | — | Common Stock | 70,000 | 280,000 | D |
Explanation of responses
- F1On April 19, 2018, the Company granted an option to purchase 70,000 shares of Common Stock to Mr. Wang. The options issued to the executive will vest in accordance with the following schedule: (i) 1/3 of the shares underlying the option will vest immediately on the Effective Date, (ii) 1/3 of the shares underlying the option will vest on the one-year anniversary of the Effective Date, and (iii) 1/3 of the shares underlying the option will vest on the two-year anniversary of the Effective Date.
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.