-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UPAOA3v11cqrCd8QOM+H/gYyCY85a2pMv+YJ/NJX7bRAXpVrTMg5tjBwg2Fc+jjR inQOo+a/XHEAhTwzonlXfA== 0001201800-04-000019.txt : 20040223 0001201800-04-000019.hdr.sgml : 20040223 20040223162422 ACCESSION NUMBER: 0001201800-04-000019 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040219 FILED AS OF DATE: 20040223 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: CANNAVINO JAMES A CENTRAL INDEX KEY: 0001220686 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-20660 FILM NUMBER: 04622284 BUSINESS ADDRESS: STREET 1: DIRECT INSITE CORP STREET 2: 80 ORVILLE DR CITY: BOHEMIA STATE: NY ZIP: 11716 BUSINESS PHONE: 6312441500 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: DIRECT INSITE CORP CENTRAL INDEX KEY: 0000879703 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 112895590 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 80 ORVILLE DR CITY: BOHEMIA STATE: NY ZIP: 11716 BUSINESS PHONE: 5162441500 MAIL ADDRESS: STREET 1: 80 ORVILLE DRIVE CITY: BOHEMIA STATE: NY ZIP: 11716 FORMER COMPANY: FORMER CONFORMED NAME: COMPUTER CONCEPTS CORP /DE DATE OF NAME CHANGE: 19930328 4 1 edgar.xml PRIMARY DOCUMENT X0201 4 2004-02-19 0000879703 DIRECT INSITE CORP DIRI.OB 0001220686 CANNAVINO JAMES A 6501 RED HOOK PLAZA SUITE 201 - PMB RED HOOK, ST. THOMAS, U.S.V.I. VI 00802 1 1 0 0 Chairman of the Board & CEO Common Stock 2004-02-19 4 A 0 7792 .77 A 490882 D Series C Redeemable Preferred Stock 2003-12-18 4 A 0 140 1000.00 A 200 D Series C Redeemable Preferred Stock 2003-12-15 4 A 0 60 1000.00 A 60 D Common Stock Purchase Warrants .9348 2003-12-18 4 A 0 149765 .9348 A 2005-12-18 2008-12-18 Common Stock 149765 149765 D Common Stock Purchase Warrants .9348 2003-12-15 4 A 0 64185 .9348 A 2005-12-15 2008-12-15 Common Stock 64185 64185 D 2003 Stock Option Plan Right to Buy 1.16 2003-12-05 4 A 0 170000 1.16 A 2003-01-27 2008-12-31 Common Stock 170000 170000 D 2003A Stock Option Plan Right to Buy 1.16 2003-12-05 4 A 0 190000 1.16 A 2003-01-27 2008-12-31 Common Stock 190000 190000 D 2003 Stock Option Plan (Right to Buy) 1.26 2003-07-18 4 A 0 108000 1.26 A 2005-03-31 2006-04-01 Common Stock 108000 108000 D Stock Option Plan (Right to Buy) 2.02 2003-01-27 4 A 0 240000 2.02 A 2005-01-27 2008-01-26 Common Stock 240000 240000 D Stock Option Plan (Right to Buy) 2.05 2002-07-29 4 A 0 74000 2.05 A 2005-06-30 2012-07-28 Common Stock 74000 74000 D Stock Option Plan (Right to Buy) 1.05 2002-01-17 4 A 0 240000 1.05 A 2005-02-17 2012-01-16 Common Stock 240000 240000 D Includes 60,000 shares of common stock, which pursuant to contractual agreement, the reporting person is to receive during the period 2/27/03 through 1/26/04, issuable at the rate of 5,000 shares per month as long as he is in the employ of the issuer. If employment is terminated during such period, non-issuance of any shares will be reported as a disposition of same. Payment for services as a board member for the second, third and fourth quarters for fiscal year ending 12/31/03. Warrants to purchase common stock are exercisable at the rate of no less than 500 shares at a time during the term of the Warrants. 120,000 shares vest 1/27/03; 120,000 shares vest at the rate of 5,000 per month commencing 2/27/03 and on the 27th day of each succeeding month through 1/27/05 37,500 vest 12/5/03; 322,500 shares vest at the rate of 7,500 per month commencing on the 5th day of each month commencing 1/5/04 for 43 months. Shares vest 10,000 shares per month commencing 2/17/02. Shares vest one-third 6/30/03, one-third 6/30/04, and one-third 6/30/05. James A. Cannavino 2004-02-19 -----END PRIVACY-ENHANCED MESSAGE-----