UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 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. | SEC 1473 (7-02) | ||
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. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Common Stock Options | 02/28/2022 | 02/28/2032 | Common Stock | 12,500 (1) | $ 2 | D | |
Common Stock Options | 05/31/2022 | 05/31/2032 | Common Stock | 12,500 (1) | $ 2 | D | |
Common Stock Options | 05/09/2022 | 05/09/2032 | Common Stock | 3,875 (2) | $ 2 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Mehta Palvi Kumar 27 CASTILIAN DR. GOLETA, CA 93117 |
X |
/s/ Palvi Mehta | 04/07/2022 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(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) | Pursuant to Ms. Mehta's Director Agreement dated December 1, 2021, she received an option to purchase an aggregate 125,000 shares of the Issuer's common stock that vest in equal quarterly increments, with 50,000 earned for 1 year of service, an additional 37,500 earned for a second year of service, if re-elected, and the final 37,500 earned for a third year of service, if re-elected. |
(2) | Ms. Mehta is entitled to additional options for her service on our corporate governance committees: 5,000 as member of the Audit Committee, 7,500 as Chair of the compensation committee and 3,000 as member of the nomination/governance committee. All of those options are payable in quarterly increments with immediate vesting. |