0001415889-20-002167.txt : 20200819
0001415889-20-002167.hdr.sgml : 20200819
20200819202320
ACCESSION NUMBER: 0001415889-20-002167
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20200508
FILED AS OF DATE: 20200819
DATE AS OF CHANGE: 20200819
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: WETHERELL WAYNE G
CENTRAL INDEX KEY: 0001236379
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-15757
FILM NUMBER: 201118455
MAIL ADDRESS:
STREET 1: 10815 RANCHO BERNARDO RD.,
STREET 2: SUITE 310
CITY: SAN DIEGO
STATE: CA
ZIP: 92127
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: IMAGEWARE SYSTEMS INC
CENTRAL INDEX KEY: 0000941685
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372]
IRS NUMBER: 330224167
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 13500 EVENING CREEK DR. N.
STREET 2: SUITE 550
CITY: SAN DIEGO
STATE: CA
ZIP: 92128
BUSINESS PHONE: 8586738600
MAIL ADDRESS:
STREET 1: 13500 EVENING CREEK DR. N.
STREET 2: SUITE 550
CITY: SAN DIEGO
STATE: CA
ZIP: 92128
FORMER COMPANY:
FORMER CONFORMED NAME: IMAGEWARE SOFTWARE INC
DATE OF NAME CHANGE: 19991123
4
1
form4-08192020_050808.xml
X0306
4
2020-05-08
1
0000941685
IMAGEWARE SYSTEMS INC
IWSY
0001236379
WETHERELL WAYNE G
C/O IMAGEWARE SYSTEMS, INC.
13500 EVENING CREEK DRIVE N SUITE 550
SAN DIEGO
CA
92128
false
false
false
true
FORMER SR. VP AND CFO
Common Stock
2020-05-08
4
A
0
160000
A
459377
D
Stock Option (Right to Buy)
0.92
2020-05-08
4
D
0
100000
D
2022-02-02
Common Stock
100000
0
D
Stock Option (Right to Buy)
1.93
2020-05-08
4
D
0
10000
D
2023-10-29
Common Stock
10000
0
D
Stock Option (Right to Buy)
2.29
2020-05-08
4
D
0
10000
D
2024-12-15
Common Stock
10000
0
D
Stock Option (Right to Buy)
1.73
2020-05-08
4
D
0
75000
D
2025-09-14
Common Stock
75000
0
D
Stock Option (Right to Buy)
1.37
2020-05-08
4
D
0
75000
D
2026-09-22
Common Stock
75000
0
D
Stock Option (Right to Buy)
1.75
2020-05-08
4
D
0
50000
D
2028-01-31
Common Stock
50000
0
D
On May 8, 2020, the Issuer cancelled certain stock options held by the Reporting Person, originally granted on January 29, 2010, February 2, 2012, October 29, 2013, December 12, 2015, September 14, 2015, September 22, 2016, and January 31, 2018. In exchange for the cancelled stock options, the reporting person received 160,000 Restricted Stock Units (the "RSUs") from the Issuer. The RSUs represent a contingent right to receive shares of the Issuer's common stock on a one-for-one basis upon settlement. The RSUs are subject to a three year vesting schedule, whereby 20,000 RSUs vest on May 8, 2020, and 20,000 RSUs vest on each of the next seven quarterly anniversaries thereafter.
Options to purchase 33,400 shares vested on 2/2/2013, with the remainder vesting equally in eight quarterly installments thereafter.
Options to purchase 3,336 shares vested on 10/29/2014, with the remainder vesting equally in eight quarterly installments thereafter.
One-third of the options vested on 12/12/2016, with the remainder vesting equally in eight quarterly installments thereafter.
The reporting person was originally granted options to purchase 150,000 shares, of which 75,000 options vested only upon reaching certain achievement milestones that were not achieved. The option to purchase the remaining 75,000 shares was subject to a three year vesting schedule, whereby one third of the remaining 75,000 options vested on 9/14/2016, with the remainder vesting equally in eight quarterly installments thereafter.
One-third of the options vested on 9//22/2017, with the remainder vesting equally in eight quarterly installments thereafter..
One-third of the options vested on 1/31/2019, with the remainder vesting equally in eight quarterly installments thereafter.
/s/ Wayne Wetherell
2020-08-19