SEC Form 4 · accession 0001204348-16-000006
TRANS WORLD CORP · TWOC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Rami S Ramadan
Officer — CEO
Period of report
Jan 29, 2016
Accepted (ET)
Feb 1, 2016 · 5:18 pm EST
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 | $2.59 | Jan 29, 2016 | P | 75,000 | A | Jan 29, 2016 | Jan 29, 2021 | Common Stock | 75,000 | 350,000 | D |
Explanation of responses
- F1On January 29, 2106, the Compensation Committee of the Board of Directors granted to Mr. Ramadan, five-year options to buy 75,000 shares of the Company's Common Stock. These options will vest in four equal parts, with the first portion of 18,750 to be vested on the date of grant, followed by annual vesting of 18,750 options upon reaching each anniversary date. The exercise price is set at the market closing price on the date of grant, which is $2.59, and will escalate at each anniversary date by 4.0% to $2.69 on the first anniversary, and so on.