SEC Form 4 · accession 0001683168-18-002148
PRECISION OPTICS CORPORATION, INC. · POCI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Donald Andrew Major
Officer — Chief Financial Officer
Period of report
Aug 2, 2018
Accepted (ET)
Aug 6, 2018 · 4:12 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000867840
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F2,F1 | $0.70 | Aug 2, 2018 | A | 100,000 | A | — | Aug 2, 2028 | Common Stock | 100,000 | 306,000 | D |
Explanation of responses
- F1The options vest as follows: 33,000 options vest on November 2, 2018 (3 months after grant date); 33,000 options vest three months following the end of the second consecutive quarter in which the Issuer's quarterly revenues are $1,500,000 or greater as published in a Form 10-Q or 10-K; and 34,000 options vest three months following the end of the second consecutive quarter in which the Issuer's gross margin percentage is 30% or greater as published in a Form 10-Q. All options vest upon a change in control or termination for a reason other than cause.
- F2The options were granted by the Issuer as a one-time grant to compensate Mr. Major for his acceptance of the position of Chief Financial Officer.