09/16/2025 | Press release | Distributed by Public on 09/16/2025 16:47
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 | ||||||||
Common Stock(1) | $ 0 | 05/27/2025 | A | 100,000(1) | (1) | (1) | Common Stock | 100,000 | (1) | 0 (1) | D | ||||
Stock Option(2) | $2.57 | 05/27/2025 | A | 150,000(2) | (2) | (2) | Common Stock | 150,000 | (2) | 0 (2) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Pagen Melissa 4438 W LOVERS LANE UNIT 100 DALLAS, TX 75209 |
SVP Corp Dev & Gov't Relations |
/s/ Melissa M. Pagen | 09/15/2025 | |
**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) | Represents shares of Common Stock underlying a time-based vesting restricted stock unit ("RSU") award granted on May 27, 2025, but contingent on the Issuer's shareholders approving its Amended Restated 2023 Equity Incentive Plan. The RSU will vest as to one-third, or 33,333 shares of the 100,000 total number of shares on May 27, 2026 and an additional one-third of the total number of shares will vest on May 27, 2027 and May 27, 2028, subject to the Reporting Person's continued service through any vesting date and shareholder approval of the Issuer's Amended Restated 2023 Equity Incentive Plan. |
(2) | Represents shares of Common Stock underlying a stock option award granted on May 27, 2025, but contingent on the Issuer's shareholders approving its Amended Restated 2023 Equity Incentive Plan. The stock option will vest upon meeting any of the performance measures specified in the grant at any time during the 10-year term of the award, subject to the Reporting Person's continued service through any vesting date and shareholder approval of the Issuer's Amended Restated 2023 Equity Incentive Plan |