UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Stock Option (3) | (4) | 07/29/2024 | Common Stock | 54,975 | $ 0.71 | D | |
Stock Option (3) | (5) | 07/29/2026 | Common Stock | 109,951 | $ 0.71 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Everett R. Jason 6080 CENTER DRIVE SUITE 1200 LOS ANGELES, CA 90045 |
Chief Accounting Officer |
/s/ Julia Waldron, Attorney-in-Fact | 08/19/2019 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | These shares were granted as restricted stock units and will vest as follows; (i) 50% vesting on July 29, 2021, (ii) 25% vesting on July 29, 2022 and (iii) 25% vesting on July 29, 2023, subject to continuous employment on each applicable vesting date. |
(2) | These shares were granted as performance-based restricted stock units and will vest as follows; (i) 50% vesting on July 29, 2021, (ii) 25% vesting on July 29, 2022, and (iii) 25% vesting on July 29, 2023, subject to the reporting person's continuous service through each applicable vesting date, and provided that the Issuer's average volume-weighted average price per share of common stock equals or exceeds $4.00 for 45 consecutive trading days at any time on or prior to July 29, 2024. |
(3) | Each Stock Option represents the right of the reporting person to receive a cash payment on the date of exercise equal to the value of the closing price per share on the date of exercise less the exercise price. |
(4) | These Stock Options generally vest and become exercisable as follows: (i) 50% of the Stock Options will vest on July 29, 2021, (ii) 25% of the Stock Options will vest on July 29, 2022 and (iii) 25% of the Stock Options will vest on July 29, 2023, subject to the reporting person's continuous service through each applicable vesting date, and provided that the Issuer's average volume-weighted average price per share of common stock equals or exceeds $4.00 for 45 consecutive trading days at any time on or prior to July 29, 2024. |
(5) | These Stock Options generally vest and become exercisable as follows: (i) 50% of the Stock Options will vest on July 29, 2021 and (ii) 50% of the Stock Options will vest on July 29, 2022, subject to the reporting person's continuous service through each applicable vesting date, and provided that the Issuer's average volume-weighted average price per share of common stock equals or exceeds $8.00 for 45 consecutive trading days at any time on or prior to July 29, 2026. |
Remarks: See Exhibit 24.1 - Power of Attorney |