ClearSign Technologies Corp — Director's Dealing 2020

Jan 14, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ClearSign Technologies Corp (CLIR)
CIK: 0001434524
Period of Report: 2020-01-09

Reporting Person: Kendrick Donald W (Chief Technology Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-01-09	Option to Purchase Common Stock	$0.89	A	40000	Acquired	2030-01-09	Common Stock (40000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option to Purchase Common Stock	$1.21	2029-01-01	Common Stock (60000)	60000	Direct
Option to Purchase Common Stock	$1.21	2029-01-01	Common Stock (50000)	50000	Direct
Option to Purchase Common Stock	$2.25	2029-01-01	Common Stock (50000)	50000	Direct
Option to Purchase Common Stock	$1.90	2028-04-01	Common Stock (30000)	30000	Direct
Option to Purchase Common Stock	$3.80	2027-04-01	Common Stock (25000)	25000	Direct
Option to Purchase Common Stock	$5.07	2025-03-31	Common Stock (25000)	25000	Direct
Option to Purchase Common Stock	$4.21	2026-03-31	Common Stock (25000)	25000	Direct

Footnotes

F1: The right to purchase 20,000 option shares vested on January 9, 2020, the grant date. The remaining 20,000 option shares will vest upon the completion of certain performance objectives.

F2: The right to purchase these shares vested on February 9, 2019, the grant date.

F3: The right to purchase the option shares vests as follows: one-third of the option shares vested on January 1, 2019, one-third of the option shares vested on January 1, 2020 and one third of the option shares will vest on January 1, 2021.

F4: The right to purchase the option shares vests as follows: one-third of the option shares vested on January 1, 2019, one-third of the option shares vested on January 1, 2020 and one third of the option shares will vest on January 1, 2021.

F5: The right to purchase the option shares vests at the rate of 6.25% commencing on July 1, 2018 and continues to vest thereafter on the first day of each quarter until the right to purchase all of the option shares has vested.

F6: The right to purchase the option shares vested at the rate of 6.25% commencing on June 30, 2017 and continues to vest thereafter on the last day of each quarter until the right to purchase all of the option shares has vested.

F7: The right to purchase the option shares vested 40% on April 1, 2016 and continues to vest thereafter at the rate of 5% commencing on July 1, 2016 and on each quarterly (3-month) anniversary until the right to purchase all of the shares has vested on July 1, 2020.

F8: The right to purchase the option shares vested 6.25% on July 1, 2016 and continues to vest thereafter on each quarterly (3-month) anniversary until the right to purchase all of the shares has vested on July 1, 2020.