Major owner of BIOLARGO, INC. just picked up 75,606 shares

Kenneth Reay Code, a major owner of BIOLARGO, INC. and BIOLARGO, INC.'s Chief Science Officer and a director of the company, recently acquired 75,606 shares of the company. The buys took place at $0.23 per share, on April 01, 2021. Code now owns 24,519,253 shares of the company. Code operates out of Westminster, CA. Some additional info was provided as follows:


Shares received from Issuer in exchange for a reduction in amounts owed by Issuer to Reporting Person for salary and unreimbursed business expenses (equal to the product of the number of shares and acquisition price per share).
Aggregate total shares includes 22,139,012 shares owned indirectly by Reporting Person through a wholly owned corporation.
The shares issued are unvested and subject to a Lock- Up Agreement dated as of the issuance date whereby shares vest only upon the earlier of (i) the sale of the Issuer of substantially all of its assets, (ii) the successful commercialization of Issuer's products or technologies as demonstrated by its receipt of at least $3,000,000 in cash, or the recognition of $3,000,000 in revenue, over a 12-month period from the sale of products and/or the license of technology; and (iii) the Company's breach of the employment agreement between the Company and Reporting Person and resulting in Reporting Person's termination.

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:

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