WALTMAN HOWARD 4
4 · EMERGENT GROUP INC/NY · Filed Aug 28, 2003
Insider Transaction Report
Form 4
WALTMAN HOWARD
Director
Transactions
- Conversion
Promissory Notes
2003-08-29−250,000→ 75,000 totalExercise: $0.40From: 2003-08-29Exp: 2003-12-31→ Common Stock (250,000 underlying) - Conversion
Common Stock
2003-08-29$0.40/sh+252,500$101,000→ 263,832 total(indirect: Direct/Indirect)
Footnotes (3)
- [F1]In June 2003, Mr. Waltman purchased promissory notes from the Issuer in the principal amount of $100,000. 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 252,500 shares, 250,000 shares represent conversion of principal and 2,500 shares represent conversion of accrued interest.
- [F2]Includes 11,332 shares owned by a family limited liability company.
- [F3]Represents options to purchase 75,000.