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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Options | $ 1.35 | 02/09/2010 | A | 60,000 | (1) | 02/09/2020 | Common Stock | 60,000 | $ 0 | 60,000 | D | ||||
Restricted Stock Units | (2) | 02/09/2010 | A | 42,750 | (3)(4) | (3)(4) | Common Stock | 42,750 | $ 0 | 42,750 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
PUNAL FRANCISCO V 1250 NORTHPOINT PARKWAY WEST PALM BEACH, FL 33407 |
Chief Financial Officer |
/s/ Francisco v. Punal | 02/11/2010 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The option to purchase 60,000 shares of common stock was awarded of February 9, 2010 pursuant to the Company's stockholder approved 2007 plan in a transaction exempt under Rule 16b-3 and becomes exercisable ratably over four years starting on February 9, 2011. |
(2) | Each restricted stock unit represents a contingent right to receive one share of HearUSA, Inc. common stock. |
(3) | The restricted stock units were awarded on February 9, 2010 under the HearUSA, Inc. Amended and Restated 2007 Incentive Compensation Plan in a transaction exempt under Rule 16b-3 and vest in three equal annual installments once performance criteria are met (i.e., February 2011, February 2012 and February 2013). |
(4) | The 42,750 restricted stock units are subject to forfeiture depending upon achievement in 2010 of performance criteria estalished by the Compensation Committee. |