Filing Details

Accession Number:
0001493152-18-014615
Form Type:
4
Zero Holdings:
No
Publication Time:
2018-10-18 09:08:23
Reporting Period:
2018-10-16
Accepted Time:
2018-10-18 09:08:23
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
891417 Pen Inc. PENC Coating, Engraving & Allied Services (3470) 760273345
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1363998 Jr G Howard Westerman 701 Brickell Ave, Suite 1550
Miami FL 33131
Yes No No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Class A Common Stock Acquisiton 2018-10-16 4,000 $0.50 43,889 No 4 J Direct
Class A Common Stock Acquisiton 2018-10-16 33,898 $0.50 77,787 No 4 P Indirect See Footnote
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 J Direct
No 4 P Indirect See Footnote
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Class A Common Stock Option Acquisiton 2018-10-16 33,898 $0.03 33,898 $1.00
Class A Common Stock Warrant Acquisiton 2018-10-16 33,898 $0.03 33,898 $1.50
Class A Common Stock Warrant Option Acquisiton 2018-10-16 33,898 $0.03 33,898 $2.00
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
34,957 2018-10-06 2019-06-30 No 4 P Indirect
68,855 2018-10-16 2022-10-16 No 4 P Indirect
102,753 No 4 P Indirect
Footnotes
  1. Shares acquired directly were awarded as compensation for service as a director of PEN Inc.
  2. Shares acquired indirectly and derivative securities acquired were purchased by a family investment entity that purchased an interest in an entity that acquired the issuer's securities in a private placement. Reporting person has voting control over the family investment entity but reporting person disclaims beneficial ownership of the securities held by the partnership for which he does not have pecuniary interest and this filing should not be construed as an admission that the reporting person is the beneficial owner of these securities.
  3. Warrant will expire on the earlier of this date or the date that the Class A common stock has been trading at or above 120% of the exercise price for a period of 90 days.
  4. Warrant Option is priced at $0.03 per warrant and can only be purchased after exercise of Option and only for that number of shares purchased as a result of option exercise. If exercised, warrant issued on exercise of Warrant Option will have warrant exercise price of $2.00 per share and will expire on the earlier of 4 days from date of issue or date that the Class A common stock has been trading at or above 120% of the exercise price for a period of 90 days.