Ernest Ortega, Towerstream Corporation's Chief Executive Officer, has now declared ownership of 2,139,585 options from the company. The strike prices of the options received ranged from $0.17 to $7.00, and these expire on dates ranging from January 01, 2026 to January 24, 2027.
Some additional info was provided as follows:
Vested monthly over a one-year period from January 1, 2016.
Granted on September 16, 2016 and vests six months thereafter.
Granted on January 3, 2017 and vests six months thereafter.
One-third vests on the one-year anniversary of the date of grant and the remaining two-thirds vest in eight subsequent equal quarterly installments following the one-year anniversary of the date of grant, so long as Reporting Person remains employed by the Issuer
on the vesting date.
50% vests upon three consecutive quarters with positive cash flow and 50% vests upon sale of the Issuer's grandfathered earth station and related assets for gross proceeds equal to or greater than $15,000,000.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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