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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (right to buy) | $ 1.98 | 07/28/2005 | D | 100,000 | (1) | 05/16/2014 | Common Stock | 100,000 | (3) | 0 | D | ||||
Stock Option (right to buy) | $ 1.98 | 07/28/2005 | A | 100,000 | (2) | 05/16/2014 | Common Stock | 100,000 | (3) | 100,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
FRYDMAN JEAN W C/O NOVADEL PHARMA INC 25 MINNEAKONING ROAD FLEMINGTON, NJ 08822 |
VP & General Counsel |
/s/ Jean W. Frydman | 08/01/2005 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | 33,333 options became exercisable on May 17, 2005, 33,333 become exercisable on May 17, 2006, and 33,334 become exercisable on May 17, 2007. |
(2) | 33,333 were exercisable on date of issue; 33,333 become exercisable on May 17, 2006 and 33,334 on May 17, 2007. |
(3) | On July 28, 2005, the issuer canceled, pursuant to a disclosure and release agreement, a ten-year option grant to the reporting person on May 17, 2004 for 100,000 shares at $1.98 per share. In exchange, the reporting person received an option for 100,000 shares at $1.98 as described herein. |