07/15/2025 | Press release | Distributed by Public on 07/15/2025 17:30
FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN 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. | |||
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 |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Jenkins James M. 1525 PERIMETER PARKWAY SUITE 325 HUNTSVILLE, AL 35806 |
X | President, CEO & Exec. Chair |
/s/ Roger D. Shannon, by power of attorney | 07/15/2025 | |
**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 reporting person was granted restricted stock in lieu of a portion of his salary for the remainder of the fiscal year ending January 31, 2026. The reporting person elected to receive $15,000 of his remaining fiscal year 2026 salary in the form of the Issuer's stock. The number of restricted stock granted is based on a per share value of $14.31, the closing price of the Issuer's common stock on the date of grant. The restricted stock vests on the first anniversary of the date of grant; provided, that the reporting person is not terminated for cause prior to the vesting date. |
(2) | Shares withheld by the Issuer to satisfy the reporting person's tax obligation in connection with the grant of restricted stock. |
(3) | The reporting person was granted restricted stock units ("RSUs"), which represent a contingent right to receive one share of Common Stock, par value $.01 per share, of the Issuer. These RSUs represent a 30% premium on the amount of salary the reporting person has elected to receive in lieu of cash, as explained in the first footnote above. The number of RSUs granted is based on a per share value of $14.31, the closing price of the Issuer's common stock on the date of grant. The RSUs vest on the first anniversary of the date of grant; provided, that the reporting person remains in continuous service through the vesting date. |