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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Incentive Stock Option | $ 3.98 | 06/01/2005 | A | 25,000 (1) | 09/01/2005 | 06/01/2012 | Common Stock | 25,000 | $ 0 | 95,000 (2) | D | ||||
Non-Qualified Stock Option | $ 3.98 | 06/01/2005 | A | 25,000 (1) | 12/01/2005 | 06/01/2012 | Common Stock | 25,000 | $ 0 | 120,000 (3) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
MERCER D SCOTT |
Chief Executive Officer |
D. Scott Mercer | 06/02/2005 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Mr. Mercer was granted a total of 50,000 options on 6/1/05. Because of IRS limitations on Incentive Stock Options, 25,000 of the options granted are considered non-qualified stock options. The remaining 25,000 are considered Incentive Stock Options. These options vest and become exercisable as to 50% of the total options on September 1, 2005 and the remaining 50% becomes exercisable on December 1, 2005, such that the option is 100% exercisable by December 1, 2005. |
(2) | 25,000 are attributable to outstanding Incentive Stock Options; 70,000 are attributable to outstanding Non-Qualified Stock Options. |
(3) | 25,000 are attributable to outstanding Incentive Stock Options; 95,000 are attributable to outstanding Non-Qualified Stock Options. |