SILVER MICHAEL B 4
4 · CROWN FINANCIAL GROUP INC · Filed Nov 18, 2003
Insider Transaction Report
Form 4
SILVER MICHAEL B
SVP & Mgr of OTC Market Making
Transactions
- Purchase
Common Stock
2003-11-17$2.33/sh+53,648$125,000→ 479,981 total
Holdings
- 232,124
Employee Stock Option (Right to Buy)
→ Common Stock (232,124 underlying)
Footnotes (4)
- [F1]Shares were purchased directly from the issuer at a price equal to the greater of the closing bid price on the date of the transaction or the average of the closing bid prices on the five business days preceding the transaction date. The shares were issued without registration and subject to restrictions under the Securities Act of 1933.
- [F2]Options were granted on different dates with different exercise prices as follows: Option to purchase 75,000 shares at exercise price of $0.68; Option to purchase 10,000 shares at exercise price of $1.39; and Option to purchase 147,124 shares at exercise price of $2.64.
- [F3]Options vest pursuant to the following schedule: 1/3 vest upon the first anniversary of the date of grant; 2/3 vest upon the second anniversary of the date of grant; 100% vest upon the third anniversary of the date of grant.
- [F4]Options expire upon the fifth anniversary of the date of grant.