Connaghan Michael Denis 4
4 · ETRIALS WORLDWIDE INC. · Filed May 15, 2009
Insider Transaction Report
Form 4
Connaghan Michael Denis
DirectorPresident and CEO
Transactions
- Award
Common Stock
2009-03-09$0.00/sh+126,812$13→ 237,432 total
Holdings
- 350,000
Employee Stock Options (right to buy)
Exercise: $1.10Exp: 2018-11-12→ Common Stock (350,000 underlying)
Footnotes (2)
- [F1]On March 9, 2009, the Company's Board of Directors approved a grant of 126,812 restricted shares of our Common Stock for a purchase price of $0.0001 per share subject to the terms of the Company's 2005 Performance Equity Plan. Until such shares are vested, the Company has the right to repurchase the restricted shares at the purchase price for which the shares were issued. Subject to accelerated vesting as described in the Restricted Stock Agreement, these restricted shares vest in equal quarterly installments on the 9th day of March, June, September and December, commencing March 9, 2009, until all the shares are fully vested.
- [F2]On November 10, 2008, the Company's Board of Directors granted incentive stock options to Mr. Connaghan to purchase 350,000 shares of our Common Stock. Subject to accelerated vesting as described in the Incentive Stock Option Agreement, the options vest in sixteen equal quarterly installments of 21,875 shares on the 12th day of February, May, August and November of each year beginning February 12, 2009 and ending November 12, 2012.