SEC Form 4 · accession 0001637834-15-000008
DYNATRONICS CORP · DYNT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kelvyn H Cullimore Jr.
Officer — Chairman and CEO · Director
Period of report
Nov 20, 2015
Accepted (ET)
Nov 24, 2015 · 2:51 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000720875
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| common stock | holding | — | — | — | 187,258 | D | ||
| common stock | holding | — | — | — | 10,000 | I | by wife |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| common stock optionF1,F2 | $3.34 | Nov 20, 2015 | A | 40,000 | A | Jul 14, 2016 | Jul 14, 2023 | common stock | 40,000 | 46,000 | D |
Explanation of responses
- F1These options were granted pursuant to employment agreement with the executive; grants finalized by the issuer compensation committee on November 20, 2015, notwithstanding the contingent grant was authorized in May 2015 with renegotiated employment agreement.
- F2The Option may be exercised from time to time to purchase whole shares in accordance with the following schedule: twenty-five percent (25%) of the shares subject to the Option shall vest on each of the first, second third and fourth anniversaries of the Vesting Reference Date of July 14, 2015
Remarks
These options were granted pursuant to employment agreement with the executive; grants finalized by the issuer compensation committee on November 20, 2015, notwithstanding the contingent grant was authorized in May 2015 with renegotiated employment agreement.