Ted William Karkus, a major owner of ProPhase Labs and ProPhase Labs's CEO & Chairman and a director of the company, just received 2,300,000 options from the company. The strike price of the options received was $3.00, and these expire on February 22, 2023. Karkus now owns at least 2,300,000 options on the company.
Some additional info was provided as follows:
The transaction reported in this row involves a grant by the Issuer to the Reporting Person of options to purchase 2,300,000 shares of the Issuer's common stock that will vest and be exercisable in 35 equal monthly installments of 63,888 shares on the 1st day of each month beginning on March 1, 2018 (the "Initial Vesting Date"), and one monthly installment of 63,920 shares on the 1st day of the 36th month
following the Initial Vesting Date, subject to Mr. Karkus' continued employment with the Company, and subject to accelerated vesting in the event Mr. Karkus' employment is terminated for any reason other than by the Company for cause or by Mr. Karkus without good reason. The stock option may not be exercised unless and until the requisite stockholder approval is attained.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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