04/14/2025 | Press release | Distributed by Public on 04/14/2025 15:20
FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 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. | SEC 1473 (7-02) | ||
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. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Restricted Stock Units (RSU) | (1) | (1) | Common Stock, par value $.001 per share | 225,000 | $0(2) | D | |
Restricted Stock Units (RSU) | (3) | (3) | Common Stock, par value $.001 per share | 24,189 | $0(2) | D | |
Restricted Stock Units (RSU) | (4) | (4) | Common Stock, par value $.001 per share | 162,000 | $0(2) | D | |
Restricted Stock Units (RSU) | (5) | (5) | Common Stock, par value $.001 per share | 25,000 | $0(2) | D | |
Option to buy common stock | (6) | 12/23/2026 | Common Stock, par value $.001 per share | 1,000,000 | $0.76 | D | |
Option to buy common stock | (6) | 11/11/2025 | Common Stock, par value $.001 per share | 1,000,000 | $0.25 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Crandall Ryan 10 OCEANA WAY, 2ND FLOOR NORWOOD, MA 02062 |
Chief Commercial Officer |
/s/ Ryan Crandall | 04/11/2025 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(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 RSUs vest over a three-year period as follows: (i) one-third on November 29, 2025; and (ii) in equal one-sixth installments every six months following November 29, 2025 through November 29, 2027, in accordance with the terms of an award agreement between the Issuer and the Reporting Person. |
(2) | RSUs convert to shares of common stock on a one-for-one basis. |
(3) | The RSUs vest in equal one-fourth installments every six months beginning on September 28, 2025 through March 28, 2027, in accordance with the terms of an award agreement between the Issuer and the Reporting Person. |
(4) | The RSUs vest in three equal installments of 54,000 shares of common stock on each of June 8, 2025, December 8, 2025 and June 8, 2026, respectively, in accordance with the terms of an award agreement between the Issuer and the Reporting Person. |
(5) | The RSUs vest in two equal installments of 12,500 shares of common stock on each of September 7, 2025 and March 7, 2026, in accordance with the terms of an award agreement between the Issuer and the Reporting Person. |
(6) | Immediately. |