Net Element, Inc. 4
4 · Net Element, Inc. · Filed Jun 14, 2016
Insider Transaction Report
Form 4
Firer Oleg
DirectorCEO
Transactions
- Award
Restricted Shares of Common Stock
2016-06-13+954,172→ 1,292,238 total
Holdings
- 285,715(indirect: By LLC)
Restricted Shares of Common Stock
Footnotes (3)
- [F1]Net Element, Inc. (the "Company") awarded to Oleg Firer, Chief Executive Officer of the Company, (i) 5,971,717 restricted shares of Common Stock of the Company (adjusted to 597,172 shares as a result of the reverse stock split of May 25, 2016), in lieu of, and in substitution of, Mr. Firer's previously earned accrued compensation, and (ii) 3,750,000 restricted shares of Common Stock of the Company (adjusted to 375,000 shares as a result of the reverse stock split of May 25, 2016), as bonus. Such awards are not pursuant to the Company's 2013 Equity Incentive Plan (as amended). Such awards are subject to and contingent upon the Company's stockholders' approval, which approval was obtained on June 13, 2016.
- [F2]As adjusted for a reverse stock split dated as of May 25, 2016.
- [F3]Oleg Firer is a managing member of Star Equities, LLC. Mr. Firer disclaims beneficial ownership of the securities held by Star Equities, LLC except to the extent of his pecuniary interest in such securities.