SEC Form 4 · accession 0001515971-16-000527
KonaTel, Inc. · KTEL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Clarence Cottman III
Director · 10% Owner
Period of report
May 10, 2016
Accepted (ET)
May 31, 2016 · 7:18 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000845819
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | May 26, 2016 | J | 1,650,000 | $0.00 | D | 0 | I | By Cottman Family Trust dated 01/17/2000 |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series A 6% Convertible Preferred StockF3 | $0.70 | May 10, 2016 | S | 100 | D | Jun 3, 2014 | — | Common Stock | 142,858 | 0 | I |
| Common Stock Purchase Warrant | $1.35 | May 10, 2016 | J | 142,858 | D | Jun 3, 2014 | Jun 3, 2017 | Common Stock | 142,858 | 0 | I |
| Stock Options | $0.70 | May 10, 2016 | J | 100,000 | D | Jun 2, 2015 | Jun 2, 2020 | Stock Options | 100,000 | 0 | D |
Explanation of responses
- F1Returned to Company for cancellation pursuant to a settlement arrangement.
- F2Mr. Cottman is the trustee of the Cottman Family Trust dated 1/17/2000.
- F3These preferred shares are perpetual.
Remarks
Mr. Cottman resigned as a director of the company on 05/10/2016.