Elroy Amitzur, Blue Sphere Corp.'s Executive Vice President, recently acquired 2,600,000 shares of the company. The buys took place at $0.00 per share, on December 30, 2016. Amitzur now owns 5,838,514 shares of the company. Amitzur operates out of Charlotte, NC. Some additional info was provided as follows:
The 850,000 shares of Common Stock acquired by the reporting person represent 850,000 shares which vested on the one-year anniversary of and became issuable pursuant to the Service Agreement, dated November 15, 2015, between Mr. Amitzur, JLS Advanced Investment Holdings Ltd. ("JLS") and Blue Sphere Corporation, as modified by Addendum No. 1 to Service Agreement, dated December 29, 2016, between Mr. Amitzur, JLS, Renewable Energy Management Services and Blue Sphere
Corporation. Pursuant to such Addendum No. 1, the right to acquire shares of Common Stock under the Service Agreement was transferred to Renewable Energy Management Services.
The 1,750,000 shares of Common Stock acquired by the reporting person represent 1,750,000 shares awarded pursuant to a stock award under the Issuer's Global Share and Options Incentive Enhancement Plan (2014) (the "2014 Incentive Plan") which vested during 2016. The stock award under the 2014 Incentive Plan was granted on February 24, 2015 for 3,500,000 shares of Common Stock and vests in quarterly installments. As of the date of this report, 3,208,333 of such shares have been issued and 291,667 of such shares have not vested and have not been issued. The 291,667 shares that have not yet vested and not been issued are not included in the number of securities beneficially owned in Table I, Column 5 of this report.
The securities acquired in Table I, Column 4 and reported in Table II, Column 9 of this report are beneficially owned by Renewable Energy Management Services, a wholly owned subsidiary of RR Water Projects Ltd., which is owned and controlled by Mr. Amitzur and his wife. Therefore, Mr. Amitzur is deemed to have indirect beneficial ownership of such securities. Securities previously reported as beneficially owned by JLS under Table II, Column 9 of this report were issued to Renewable Energy Management Services.
The stock award under the 2014 Incentive Plan was granted on February 24, 2015 for 3,500,000 shares of Common Stock and vests in quarterly installments. As of the date of this report, 3,208,333 of such shares have been issued and 291,667 of such shares have not vested and have not been issued.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following:
Dr. Borenstein Ltd. just provided an update on share ownership of Blue Sphere Corp. - Feb. 7, 2017
Lazarus Investment Partners LLLP just provided an update on activist position in Blue Sphere Corp. - Feb. 3, 2017
General form for registration of securities under the Securities Act of 1933 - Feb. 2, 2017