Form 4: Glimpse Group Chief Futurist Officer Tyler Gates Forfeits and Acquires Stock Options
SEC Form 4
Tyler Gates, Chief Futurist Officer of Glimpse Group, forfeited fully vested options and was granted new options to purchase shares of the company's common stock.
Summary
- On February 29, 2024, Tyler Gates, the Chief Futurist Officer of Glimpse Group, forfeited options to purchase 9,216 shares of the company's common stock.
- These forfeited options were granted on January 6, 2023, and April 1, 2023, with an exercise price of $7.00 per share and were set to expire 10 years from their respective grant dates.
- On March 1, 2024, Mr. Gates was granted options to purchase 5,532 shares of common stock under the company's 2016 equity incentive plan.
- These new options have varying exercise prices and vesting dates: 1,844 shares at $3.00 per share vesting on March 1, 2025; 1,844 shares at $2.50 per share vesting on March 1, 2026; and 1,844 shares at $2.00 per share vesting on March 1, 2027.
- These new options are set to expire seven years from the grant date.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock option transactions. There is no inherent positive or negative sentiment.
Negatives
- Tyler Gates forfeited options to purchase 9,216 shares, indicating a potential loss of value based on the previous exercise price of $7.00.
Industry Context
This type of filing is standard for publicly traded companies and their officers, reflecting changes in beneficial ownership as required by the SEC.
Stakeholder Impact
- The forfeiture and granting of stock options could impact shareholder value depending on the future performance of the stock.
Key Dates
| Date | Description |
|---|---|
| January 6, 2023 | Date options to purchase 4,608 shares were granted to Mr. Gates with an exercise price of $7.00 per share. |
| April 1, 2023 | Date options to purchase 4,608 shares were granted to Mr. Gates with an exercise price of $7.00 per share. |
| March 1, 2023 | Date Mr. Gates was granted options to purchase 5,532 shares of the issuer's common stock under the 2016 Plan. |
| February 29, 2024 | Date Mr. Gates forfeited options to purchase 9,216 shares. |
| March 1, 2024 | Date Mr. Gates was granted options to purchase 5,532 shares of common stock. |
| March 1, 2025 | Vesting date for options to purchase 1,844 shares at $3.00 per share. |
| March 1, 2026 | Vesting date for options to purchase 1,844 shares at $2.50 per share. |
| March 1, 2027 | Vesting date for options to purchase 1,844 shares at $2.00 per share. |
| March 1, 2031 | Expiration date for options to purchase 5,532 shares of common stock. |
| March 5, 2024 | Date of signature for the report. |
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