Bechtel Chris 4
4 · Surna Inc. · Filed Sep 11, 2017
Insider Transaction Report
Form 4
Surna Inc.SRNA
Bechtel Chris
Director
Transactions
- Other
Option to purchase common stock
2017-09-06+450,000→ 2,000,000 totalExercise: $0.14From: 2018-03-01Exp: 2027-08-08→ Common Stock (450,000 underlying) - Other
Option to purchase common stock
2017-09-06+450,000→ 2,450,000 totalExercise: $0.14From: 2017-08-08Exp: 2027-08-08→ Common Stock (450,000 underlying) - Award
Restricted Stock Units
2017-09-06+3,000,000→ 3,000,000 totalExercise: $0.00→ Common Stock (3,000,000 underlying)
Footnotes (3)
- [F1]On September 6, 2017, the Issuer's board of directors granted the Reporting Person a total of 3,000,000 restricted stock units, which vest based on the Reporting Person's continued service and subject to the following performance thresholds: (i) 1,500,000 restricted stock units will vest on March 31, 2019 if the Issuer achieves 2018 revenue of $18,000,000, and (iii) 1,500,000 restricted stock units will vest on March 31, 2020 if the Issuer achieves 2019 revenue of $25,000,000.
- [F2]On August 8, 2017, the Issuer's board of directors approved the grant of non-qualified stock options to purchase 450,000 shares of common stock at an exercise price of $0.135, the closing price of Issuer's common stock on August 7, 2017, which were vested and exercisable on the date of grant. These options were granted for services as a director. In connection with the foregoing grant of restricted stock units, the Reporting Person agreed to terminate and cancel these non-qualified stock options as of September 6, 2017.
- [F3]On August 8, 2017, the Issuer's board of directors also approved the additional grant of non-qualified stock options to purchase 450,000 shares of common stock at an exercise price of $0.135, which vest and become exercisable on March 1, 2018 if the Reporting Person continues to provide services as a director on March 1, 2018. These options were granted for services as a director. In connection with the foregoing grant of restricted stock units, the Reporting Person agreed to terminate and cancel these non-qualified stock options as of September 6, 2017.