Major Donald Andrew 4
4 · PRECISION OPTICS CORPORATION, INC. · Filed Aug 6, 2018
Insider Transaction Report
Form 4
Major Donald Andrew
Director
Transactions
- Award
Stock Option (Right to Buy)
2018-08-02+100,000→ 306,000 totalExercise: $0.70Exp: 2028-08-02→ Common Stock (100,000 underlying)
Footnotes (2)
- [F1]The options vest as follows: 33,000 options vest on November 2, 2018 (3 months after grant date); 33,000 options vest three months following the end of the second consecutive quarter in which the Issuer's quarterly revenues are $1,500,000 or greater as published in a Form 10-Q or 10-K; and 34,000 options vest three months following the end of the second consecutive quarter in which the Issuer's gross margin percentage is 30% or greater as published in a Form 10-Q. All options vest upon a change in control or termination for a reason other than cause.
- [F2]The options were granted by the Issuer as a one-time grant to compensate Mr. Major for his acceptance of the position of Chief Financial Officer.