Shlomo Palas, Blue Sphere Corp.'s CEO and President and a director of the company, recently acquired 950,000 shares of the company. The buys took place at $0.00 per share (and therefore, likely the result of option or restricted share grants), on December 20, 2016. Palas now owns 4,315,491 shares of the company. Palas operates out of Charlotte, NC. Some additional info was provided as follows:
The 950,000 shares of Common Stock acquired by the reporting person represent 950,000 shares issuable pursuant to Mr. Palas' Service Agreement with Blue Sphere Corporation, dated November 15, 2015, which vested on the one-year anniversary.
Mr. Palas received a stock award pursuant to the Company's 2014 Incentive Plan on February 24, 2015 for 3,600,000 shares of Common Stock, wh
ich vests in quarterly installments. As of the date of this report, 1,500,000 of such shares have vested and been issued, 1,350,000 shares have vested but have not yet been issued, and 750,000 shares remain to be vested. The 2,100,000 shares that have not yet vested and/or been issued are not included in the number of securities beneficially owned in Table I, Column 5 of this report.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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