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Bridgeline Digital, Inc. Director's Dealing 2011

Nov 22, 2011

35048_dirs_2011-11-22_ce2f7e08-a4e9-4d23-900c-6378a6be78ba.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Bridgeline Digital, Inc. (BLIN)
CIK: 0001378590
Period of Report: 2011-11-18

Reporting Person: MASSIE THOMAS L (Director, President and CEO)

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2011-11-18 Stock Option (right to buy) $0.67 A 300000 Acquired 2021-10-28 Common Stock (300000) Direct
2011-11-18 Stock Option (right to buy) $1.12 D 250000 Disposed 2019-12-23 Common Stock (250000) Direct
2011-11-18 Stock Option (right to buy) $1.05 D 50000 Disposed 2021-08-03 Common Stock (50000) Direct

Footnotes

F1: This option becomes exercisable with respect to 1/3 of the underlying shares on each of October 28, 2012, October 28, 2013 and October 28, 2014.

F2: The reporting person agreed to cancellation of options granted to him on December 23, 2009 and August 3, 2011, in exchange for a new option to purchase the same number of shares having a lower exercise price.

F3: This option would have become exercisable with respect to 1/3 of the underlying shares on each of December 23, 2010, December 23, 2011 and December 23, 2012.

F4: This option would have become exercisable with respect to 1/3 of the underlying shares on each of August 3, 2012, August 3, 2013 and August 3, 2014.