FIRST MONTAUK FINANCIAL CORP 4
4 · FIRST MONTAUK FINANCIAL CORP · Filed Feb 10, 2005
Insider Transaction Report
Form 4
KURYLAK VICTOR K
President, CEO
Transactions
- Expiration (Short)
Incentive Stock Options
2003-02-08$0.75/sh−250,000$187,500→ 250,000 totalExercise: $0.75From: 2004-01-01Exp: 2008-12-31→ Common Stock (250,000 underlying) - Award
Common Stock
2005-02-08$1.00/sh+1,000,000$1,000,000→ 1,250,000 total
Footnotes (2)
- [F1]Mr. Kurylak has been granted 1,000,000 shares of restricted common stock pursuant to the Company's Senior Stock Option Plan. The grant is subject to vesting periods. One-third of the grant vests immediately, one-third of the grant vests one year from the date of the agreement, and the final one-third vests on the second anniversary of the agreement, based upon Mr. Kurylak's continuous employment with the Company during the vesting periods.
- [F2]In connection with a new Employment Agreement, Mr. Kurylak has agreed to return to the Company for cancellation a certain grant of incentive stock options awarded to him in accordance with a prior employment agreement.