MCKAY WILLIAM M 4
4 · EMERGENT GROUP INC/NY · Filed Aug 28, 2003
Insider Transaction Report
Form 4
MCKAY WILLIAM M
Chief Financial Officer
Transactions
- Conversion
Promissory Notes
2003-08-29−25,000→ 30,000 totalExercise: $0.40From: 2003-08-29Exp: 2003-12-31→ Common Stock (25,000 underlying) - Conversion
Common Stock
2003-08-29$0.40/sh+25,250$10,100→ 25,250 total
Footnotes (2)
- [F1]In June 2003, Mr. McKay purchased promissory notes from the Issuer in the principal amount of $10,000. The notes automatically converted on the August 29, 2003 effective date of a one-for-40 reverse stock split. All share and per share amounts herein have been given retroactive effect for the reverse stock split. Of the 25,250 shares, 25,000 shares represent conversion of principal and 250 shares represent conversion of accrued interest.
- [F2]Represents options to purchase 30,000 shares.