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gnulaw (51.61)

Geeknet (LNUX) Is Scott Kauffman setting up a sale within 60 days* as a quid pro quo to his past?" **

Recs

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November 22, 2009 – Comments (0) | RELATED TICKERS: AMZN , BBY , GKNT

 

562,500*** shares of Scott Kauffman's carte blanche option becomes exercisable December 3, 2009. 

 

Footnotes: 

* Kauffman joined Geeknet (LNUX) on December 5th 2008. The source of this post was submitted January 16, 2008. It was surmised Scott Kauffman might put Geeknet in play within twelve (12) months of his joining "as a quid pro quo to his past". That would be approximately 12/5/2009 - 1/5/2010...but now we have to deal with the Heisenberg Uncertainty Principle.

** Source: January 16, 2009 Motley Fool  http://caps.fool.com/Blogs/ViewPost.aspx?bpid=131599&t=01005232244381733972 

*** >Scott Kauffman's 2,250,000 Non-performance-based Stock Option

 

SEC FORM 3 

Name: Kauffman Scott L

Issuer Name and Ticker or Trading Symbol: SourceForge, Inc [LNUX] 

Date of Event Requiring Statement: 1/5/2009

Date Exercisable: 12/3/2009 

Expiration Date: 12/3/2018

Amount of Number of Shares: 2,250,000 

Conversion or Exercise Price of Derivative Security: $0.6300

Explanation of Responses:

( 1) 25% of Shares subject to this Option vest on 12/03/2009, and 1/48th of the Shares subject to the Option shall vest each month thereafter, such that 100% of the Shares subject to the Option will be fully vested and exercisable on 12/03/2012. The Option has an acceleration clause in the event of a change of control. [Emphasis added]

Source: SECFilings.com SEC FORM 8-K Filed 12/04/08 For the Period Ending 12/03/08.

 

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