SEC Form 4 · accession 0001181580-16-000041
RAVE RESTAURANT GROUP, INC. · RAVE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Timothy E Mullany
Officer — Chief Financial Officer
Period of report
Sep 29, 2016
Accepted (ET)
Oct 5, 2016 · 4:36 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000718332
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| COMMON STOCK | Sep 29, 2016 | S | 915 | $3.04 | D | 23,185 | D | |
| COMMON STOCK | Oct 4, 2016 | S | 1,205 | $3.00 | D | 21,980 | D | |
| COMMON STOCKF1 | Oct 5, 2016 | S | 11,000 | $3.03 | D | 10,980 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2 | — | holding | — | — | — | Oct 15, 2018 | Oct 15, 2018 | Common Stock | — | 20,050 | D |
| Employee Stock Option (right to buy)F3 | $6.03 | holding | — | — | — | — | May 5, 2024 | Common Stock | 50,000 | 50,000 | D |
| Employee Stock Option (right to buy)F4 | $6.03 | holding | — | — | — | — | May 5, 2024 | Common Stock | 50,000 | 50,000 | D |
Explanation of responses
- F1Represents the weighted average purchase price of transactions effected at prices ranging from $3.02 per share to $3.11 per share. Upon written request by the SEC, the Issuer or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- F2Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria are based on multiple financial metrics which, if at least minimum criteria are achieved, may yield from 50% to 150% of a share of common stock per restricted stock unit.
- F3Represents employee stock options conditionally granted on May 5, 2014, and exercisable as to 10%, 20%, 30% and 40% of the shares on May 5, 2015, 2016, 2017 and 2018, respectively.
- F4Represents employee stock options exercisable as to 5,000, 10,000, 15,000 and 20,000 shares on May 5, 2015, 2016, 2017 and 2018, respectively.