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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 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 | ||||||||
Stock Option (right to buy) (1) | $ 3 | 04/26/2007 | D | 60,000 | 01/30/2007 | 01/30/2017 | Common Stock | 60,000 | $ 0 | 0 | D | ||||
Restricted Stock Units | $ 0 | 04/26/2007 | A | 60,000 | (2) | (2) | Common Stock | 60,000 | $ 3 (3) | 60,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Miller Robert E 1129 N. MCDOWELL BLVD PETALUMA, CA 94954 |
Chief Financial Officer |
/s/ Robert Miller | 04/30/2007 | |
**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) | The Board previously authorized the grant of an option at the closing of the Company's initial public offering under the 2004 Stock Option Plan to Robert Miller to purchase 60,000 shares of common stock at an exercise price of $3.00 per share. Due to certain corporate and regulatory developments which occurred prior to the closing of the Company IPO, the Compensation Committee of the Board authorized the award of 60,000 stock units in lieu of the award of an option to Robert Miller on April 26, 2007. |
(2) | The stock units shall settle as to 30,000 shares on January 15, 2009 and as to the remaining 30,000 shares on January 15, 2010. |
(3) | The stock units were issued in lieu of the award of an option and in consideration of past services rendered to the Company and payment of $3.00 per share upon the settlement of the stock units. |