SEC Form 4 · accession 0001493152-18-002597
ProPhase Labs, Inc. · PRPH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ted William Karkus
Officer — CEO & Chairman · Director · 10% Owner
Period of report
Feb 23, 2018
Accepted (ET)
Feb 26, 2018 · 4:23 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000868278
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option (right to buy)F1 | $3.00 | Feb 23, 2018 | A | 2,300,000 | A | — | Feb 22, 2023 | Common Stock | 2,300,000 | 2,300,000 | D |
Explanation of responses
- F1The transaction reported in this row involves a grant by the Issuer to the Reporting Person of options to purchase 2,300,000 shares of the Issuer's common stock that will vest and be exercisable in 35 equal monthly installments of 63,888 shares on the 1st day of each month beginning on March 1, 2018 (the "Initial Vesting Date"), and one monthly installment of 63,920 shares on the 1st day of the 36th month following the Initial Vesting Date, subject to Mr. Karkus' continued employment with the Company, and subject to accelerated vesting in the event Mr. Karkus' employment is terminated for any reason other than by the Company for cause or by Mr. Karkus without good reason. The stock option may not be exercised unless and until the requisite stockholder approval is attained.