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NAPCO SECURITY TECHNOLOGIES, INC — Director's Dealing 2012
Dec 12, 2012
31906_dirs_2012-12-12_57384a27-d447-48d9-9e08-9b0cc35bcd48.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: NAPCO SECURITY TECHNOLOGIES, INC (NSSC)
CIK: 0000069633
Period of Report: 2012-12-10
Reporting Person: SOLOWAY RICHARD (Director, President and Secretary, 10% Owner)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2012-12-10 | NAPCO Security Technologies, Inc. | F | 371890 | $3.38 | Disposed | 5625770 | Direct |
| 2012-12-10 | NAPCO Security Technologies, Inc. | M | 135000 | $1.787 | Acquired | 5760770 | Direct |
| 2012-12-10 | NAPCO Security Technologies, Inc. | M | 540000 | $1.881 | Acquired | 6300770 | Direct |
| 2012-12-10 | NAPCO Security Technologies, Inc. | D | 128588 | $3.38 | Disposed | 6172182 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2012-12-10 | NAPCO Security Systems, Inc. Employee Stock Options | $1.787 | M | 135000 | Disposed | 2013-02-27 | NAPCO Security Technologies, Inc. (0) | Direct |
| 2012-12-10 | NAPCO Security Systems, Inc. Employee Stock Options | $1.881 | M | 540000 | Disposed | 2013-06-15 | NAPCO Security Technologies, Inc. (0) | Direct |
Footnotes
F1: Mr. Soloway exercised 675,000 stock options, 135,000 of which were set to expire on February 27, 2013 and the balance on June 15, 2013. Mr. Soloway exchanged 371,890 shares of NAPCO stock he presently owned, as payment for the exercise of the aforementioned 675,000 stock options. In adition Mr. Soloway sold 128,588 shares of NAPCO stock that he just received from the stock option exercise, back to the Company, whose proceeds will be used to cover the anticipated tax liability associated with the stock option exercise. The end result of these transactions is Mr. Soloway owns 174,522 additional shares or total shares of 6,172,182.
F2: Stock Options were awarded on February 27, 2003 and were exercisable at 20% per year commencing on February 27, 2003. These stock options have a 10 year life and were due to expire on February 27, 2013.
F3: Stock Options were awarded on June 15, 2003 and were exercisable at 20% per year commencing on June 15, 2003. These stock options have a 10 year life and were due to expire on June 15, 2013.