Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | KAVL | Stock Options | Award | $0 | +300K | $0.00 | 300K | Jun 30, 2021 | Common Stock | 300K | $0.76 | Direct | F1, F2 |
Id | Content |
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F1 | 90,000 shares vested on June 30, 2021. The remaining shares will vest in increments of 105,000 on June 30, 2022 and June 30, 2023. All unvested shares will automatically vest upon a "Change of Control," as that term is defined in the 2020 Stock and Incentive Compensation Plan. The stock options were adjusted for the Company's one-for-twelve reverse stock split effected on July 20, 2021 (see Footnote 2). |
F2 | On July 20, 2021, the Company effected a one-for-twelve reverse stock split of its common stock. Accordingly, the option was automatically adjusted such that the number of shares underlying the option is 25,000, with 7,500 shares vested, and the remaining shares vesting in increments of 8,750 on June 30, 2022 and June 30, 2023. The conversion price per share is $9.1188. |