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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 Option (Right to Buy) | $ 5.59 | 05/20/2015 | D | 2,422,740 | (1) | 09/03/2022 | Common Stock | 2,422,740 | (2) | 0 | D | ||||
Stock Option (Right to Buy) | $ 1.93 | 05/20/2015 | A | 1,863,646 | (3) | 09/03/2022 | Common Stock | 1,863,646 | (2) | 1,863,646 | D | ||||
Stock Option (Right to Buy) | $ 1.81 | 05/29/2015 | A | 280,000 | (4) | 05/29/2025 | Common Stock | 280,000 | $ 0 | 280,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Stark Juergen M. C/O TURTLE BEACH CORPORATION 100 SUMMIT LAKE DRIVE, SUITE 100 VALHALLA, NY 10595 |
X | Chief Executive Officer & Pres |
/s/ John T. Hanson, attorney-in-fact for Juergen Stark | 06/12/2015 | |
**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) | 25% of the underlying shares vested on the first anniversary of the original grant date, with the remainder scheduled to vest in equal monthly installments on the first day of each month until the fourth anniversary of the original grant date. |
(2) | On May 20, 2015, the issuer cancelled, pursuant to the issuer's option exchange program, an option for 2,422,740 shares of HEAR common stock previously granted to the reporting person. In exchange, the reporting person received a replacement option grant for 1,863,646 shares with an exercise price of $1.93 per share. |
(3) | 1,242,431 of the underlying shares were vested as of the grant date, and 1/22nd of the remaining underlying shares will vest on the 1st day of each month after the grant date until the option is fully vested. |
(4) | 25% of the underlying shares will vest on the first anniversary of the grant date, with the remainder scheduled to vest in equal monthly installments thereafter until the fourth anniversary of the grant date. |