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TSS, Inc. — Director's Dealing 2012
Sep 27, 2012
33106_dirs_2012-09-27_146808f7-eb75-4c21-b5ce-2c1afeef76cc.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Fortress International Group, Inc. (FIGI.PK)
CIK: 0001320760
Period of Report: 2012-09-27
Reporting Person: SCHWARZ KEN (Chief Financial Officer)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2012-09-27 | Employee Stock Option (Right to Buy) | $ | A | 350000 | Acquired | 2022-09-27 | Common Stock (350000) | Direct |
Footnotes
F1: Exercise price is equal to the average of the high and low bid prices for the Company's common stock reported daily on the OTCQB marketplace during the 20 trading days following September 27, 2012.
F2: The option becomes exercisable installments as follows: (1) 100,000 shares become exercisable in three equal annual installments on the first, second, and third anniversaries of the grant date, (2) 100,000 shares become exercisable when the fair market value of the Company's common stock is at least $1.00 for 20 consecutive business days, (3) 100,000 shares become exercisable when the fair market value of the Company's common stock is at least $1.50 for 20 consecutive business days, and (4) 50,000 shares become exercisable when the fair market value of the Company's common stock is at least $2.00 for 20 consecutive business days.