SEC Form 4 · accession 0001247176-16-000004
AMERICAN POWER GROUP Corp · APGI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lyle Jensen
Officer — CEO and President · Director
Period of report
Apr 25, 2016
Accepted (ET)
Apr 29, 2016 · 5:11 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000932699
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 760,747 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock Purchase OptionF1 | — | Apr 21, 2016 | J | 500,000 | D | — | Apr 21, 2016 | Common Stock | 500,000 | 590,000 | D |
| Common Stock Purchase OptionsF2 | — | Apr 25, 2016 | J | 590,000 | D | — | — | Common Stock | 590,000 | 0 | D |
| Common Stock Purchase Options | $0.10 | Apr 25, 2016 | A | 900,000 | A | Apr 25, 2016 | Apr 25, 2026 | Common Stock | 900,000 | 900,000 | D |
| Common Stock Purchase OptionsF3 | $0.10 | Apr 25, 2016 | A | 2,100,000 | A | — | — | Common Stock | 2,100,000 | 3,000,000 | D |
| Common Stock Purchase OptionsF4 | $0.10 | Apr 25, 2016 | A | 3,000,000 | A | — | — | Common Stock | 3,000,000 | 6,000,000 | D |
Explanation of responses
- F1Option to purchase 500,000 shares of common stock at an exercise price of $.28 which vested equally over a 5 year term from date of grant and had a 10 year term expired unexercised.
- F2Options to purchase 200,000 shares of common stock at prices ranging from $.33 to $.33 which vested equally over a 5 year term from date of grant and had a term of 10 years from date of grant were terminated by the company. Options to purchase 390,000 shares of common stock at prices ranging from $.23 to $.80 and which vested immediately on date of grant and had a 10 year term from date of grant were terminated by the company.
- F3The options vest equally over a period of 5 years from date of grant and have a 10 year term from date of grant.
- F4The options are exercisable in annual increments of 750,000 commencing in 2017 and ending in 2020 based on achievement of pre-determined performance goals set by the company's Board of Directors. The options have a 10 year term from date of grant.