SEC Form 4 · accession 0001204348-18-000004
TRANS WORLD CORP · TWOC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Hung D Le
Officer — CFO
Period of report
Apr 30, 2018
Accepted (ET)
May 1, 2018 · 10:54 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000914577
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Apr 30, 2018 | D | 800 | $4.1886 | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OptionsF1,F2 | $0.5486 | Apr 30, 2018 | D | 60,000 | D | Jun 2, 2016 | Jun 2, 2021 | Commmon Stock | 60,000 | 0 | D |
Explanation of responses
- F1On June 2, 2016, pursuant to the Company's 2014 Equity Incentive Plan, Mr. Le was granted five-year options to purchase 60,000 shares of common stock, par value $0.001 per share, that vest in four equal parts, with the options to acquire 15,000 shares vesting immediately upon the date of grant, and options to acquire 15,000 shares vesting subsequently upon each anniversary of the grant date. On each anniversary of the grant date, the exercise price increased by four percent (4%).
- F2As a result of consummation of the Agreement and Plan of Merger among Trans World Corporation, FEC Overseas Investment (UK) Limited, and FEC Investment (US) Limited and Far East Consortium International Limited, all unvested options vested on April 30, 2018, were cancelled and those options whose exercise price was below $4.1886 per share (the "Per Share Merger Consideration") were paid the difference between the exercise price and the Per Share Merger Consideration, without interest and subject to any withholding taxes.