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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 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 | ||||||||
Restricted Stock Unit (RSU) | (2) | 06/12/2014 | A | 37,500 | (3) | (4) | Common Stock | 37,500 | $ 0 | 37,500 | D | ||||
Restricted Stock Unit (RSU) | (2) | 06/12/2014 | A | 37,500 | (5) | 07/30/2016 | Common Stock | 37,500 | $ 0 | 37,500 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Cormack Scott Daniel 400-1001 W. BROADWAY VANCOUVER, A1 V6H 4B1 |
X | President and CEO |
Sandra Thomson as attorney-in-fact for Scott Cormack | 06/16/2014 | |
**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 no longer has a reportable beneficial interest in 7,077 shares of common stock held by his former spouse or 50,355 shares of common stock held by Trycor Investment Trust, of which the reporting person no longer serves as a co-trustee. |
(2) | Each restricted stock unit ("RSU") represents a contingent right to receive one share of the issuer's common stock at settlement. |
(3) | Pursuant to the terms of the RSU, the total underlying shares vest in four equal annual installments on the later of (i) each anniversary of the grant date and (ii) the first day thereafter during which the issuer's trading window is open, subject to the reporting person's provision of service to the issuer on each vesting date. |
(4) | The RSUs expire 30 days from the date they vest. |
(5) | Pursuant to the terms of the RSU, the total underlying shares vest if and when certain performance criteria relating to the issuer are met, subject to the reporting person's provision of service to the issuer on each vesting date, although less than 100% of the total shares may vest upon the achievement of certain, but not all, of the milestones. |