SEC Form 4 · accession 0001204348-15-000001
TRANS WORLD CORP · TWOC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patrick John Bennett Sr.
Director
Period of report
Apr 15, 2015
Accepted (ET)
Apr 16, 2015 · 10:12 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000914577
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OptionsF1 | $2.75 | Apr 15, 2015 | A | 10,000 | A | Apr 15, 2015 | Apr 15, 2020 | Common Stock | 10,000 | 17,180 | D |
Explanation of responses
- F1On April 15, 2015, Mr. Bennett was granted five-year (5) non-qualified stock options (NQSOs) to purchase 10,000 shares of the Company's common stock, $.001 par value per share (Common Stock). The grant will vest automatically without any other condition or requirement in four equal parts, with the first part vested immediately upon the grant date, and another part will vest upon the first anniversary of the grant date, and another part will vest upon the second anniversary of the grant date, and so on. The exercise price is set at $2.75, the market closing price of the grant date. On each anniversary of the grant date, the exercise price of the NQSOs, vested or unvested, shall increase by four percent (4%), to $2.86, and so on.