SEC Form 4 · accession 0001144204-17-049458
Microphase Corp
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James P Ashman
Officer — Vice President of Finance
Period of report
Dec 29, 2014
Accepted (ET)
Sep 25, 2017 · 4:06 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001574969
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Dec 29, 2014 | A | 6,667 | — | A | 6,667 | D | |
| Common StockF1,F3,F2 | Sep 30, 2015 | A | 33,333 | — | A | 40,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OptionsF1,F2,F4,F5 | $2.00 | Sep 30, 2015 | A | 25,000 | A | — | Sep 30, 2022 | Common Stock | 25,000 | 25,000 | D |
Explanation of responses
- F1On December 5, 2016, the issuer effectuated a 1 for 3 reverse split of its shares of common stock. All share figures in this Form 4 reflect that reverse split.
- F2Mr. Ashman received the shares and options from the registrant in consideration for his service as an officer.
- F3The 33,333 shares vested as follows: (i) 10,000 on September 30, 2015, (ii) 10,000 on December 31, 2015, (iii) 10,000 on March 31, 2016, and (iv) 3,333 on June 30, 2016.
- F4The exercise price is $2.00, which was the fair market value of a share of common stock as determined by the board of directors on September 30, 2015. There has never been a public market for the issuer's shares of common stock.
- F5The vesting schedule for the 25,000 options is as follows: (i) 8,334 on September 30, 2015, (ii) 8,333 on September 30, 2016, and (iii) 8,333 on September 30, 2017.