KANE STEVEN H 4
4 · Patient Safety Technologies, Inc · Filed Jun 28, 2010
Insider Transaction Report
Form 4
KANE STEVEN H
DirectorPresident and CEO
Transactions
- Disposition to Issuer
Stock option (right to buy)
2010-06-24−2,000,000→ 0 totalExercise: $0.75Exp: 2013-05-07→ Common Stock (2,000,000 underlying) - Award
Stock option (right to buy)
2010-06-24+2,000,000→ 2,000,000 totalExercise: $0.75→ Common Stock (2,000,000 underlying)
Footnotes (1)
- [F1]The two reported transactions involved an amendment of an outstanding option in connection with Mr. Kane's 6/24/2010 termination of employment, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The "old" option was originally granted on May 7, 2009 and provided for vesting as follows: on November 7, 2009 250,000 options shall vest and become exercisable and thereafter the remaining options shall vest over a 42 month period at the rate of 1/48th of the total grant, with 100% of the option award becoming fully vested and exercisable on the 48th anniversary of the grant date. Under the terms as amended, options vested as of June 24, 2010 expire on April 30, 2011, and options that continue to vest pursuant to the terms of Mr. Kane's employment agreement expire on September 24, 2011.