SEC Form 4 · accession 0001140361-15-012654

LAPOLLA INDUSTRIES INC · LPAD

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — CGO, EVP and Secretary · Director

Period of report

Jul 1, 2008

Accepted (ET)

Mar 19, 2015 · 3:35 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000875296

Table I — non-derivative securities

No Table I lines on this filing.

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Option (Right to Buy)^F1	$0.67	Jul 1, 2008	J	320,000	A	—	Jul 12, 2011	Common Stock, PV $.01	320,000	80,000	D
Option (Right to Buy)^F2	$0.35	May 18, 2009	A	300,000	A	—	May 18, 2015	Common Stock, PV $.01	300,000	380,000	D
Option (Right to Buy)^F3	$0.67	Jul 5, 2011	D	80,000	D	—	Jul 12, 2011	Common Stock, PV $.01	80,000	300,000	D
Option (Right to Buy)^F3	$0.67	Jul 5, 2011	A	80,000	A	—	Jul 12, 2014	Common Stock, PV $.01	80,000	380,000	D

F1The reporting person voluntarily canceled 320,000 of the original 400,000 options originally granted on July 12, 2005. The canceled options were not vested nor exercisable at the time of cancellation. See also Footnote 3.
F2These options vest only upon consummation of a change in control and once vested are immediately exercisable.
F3The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on July 12, 2005 for 400,000 options, of which 320,000 were canceled by the reporting person, and provided for performance based vesting criteria. On March 31, 2006, 80,000 options vested and were exercisable at the rate of 5,000 on March 31, 2006, 5,000 on December 31, 2006, 5,000 on December 31, 2007, 5,000 on December 31, 2008, and 60,000 on January 31, 2009.