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Posted On: 06/22/2017 3:19:32 PM
Post# of 15624
Form 3 - Not sure everyone seen this one, this is official regarding the CFO
http://archive.fast-edgar.com/20170621/A6KNV2...BBZZ224292
Explanation of Responses:
1. On December 15, 2016, the Company granted Mr. De-Saban 750,000 options under its 2016 ESOP. The options are exercisable at $0.05 and are subject to the provisions of the applicable Israeli laws. They are held by a trustee and may not be exercisable and sold until 2 years of the date of grant. Nevertheless, these options vest 1/3 on the date of grant and 8.33% vest on a quarterly basis. As a result of Mr. De-Seban's resignation on June 12, 2017, only 309,375 have vested and the remainder have beed returned to the ESOP and are subject to future grants.
http://archive.fast-edgar.com/20170621/A6KNV2...BBZZ224292
Explanation of Responses:
1. On December 15, 2016, the Company granted Mr. De-Saban 750,000 options under its 2016 ESOP. The options are exercisable at $0.05 and are subject to the provisions of the applicable Israeli laws. They are held by a trustee and may not be exercisable and sold until 2 years of the date of grant. Nevertheless, these options vest 1/3 on the date of grant and 8.33% vest on a quarterly basis. As a result of Mr. De-Seban's resignation on June 12, 2017, only 309,375 have vested and the remainder have beed returned to the ESOP and are subject to future grants.
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