FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
|
|||||||||||||||
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
|
2. Issuer Name and Ticker or Trading Symbol
DIGITAL ALLY INC [ k9vrch$i ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
|
||||||||||||||||||||||||
3. Date of Earliest Transaction
(Month/Day/Year) 06/12/2009 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
|
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock | 06/12/2009 | J(1) | 43,532 | A | $2.35(1) | 178,532 | D | |||
Common Stock | 06/12/2009 | J(2) | 43,532 | D | $2.35(2) | 135,000 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (Right to Buy) | $1.6 | 06/12/2009 | M | 43,532(2) | 10/01/2007(3) | 03/01/2017 | Common Stock | 43,502 | $0 | 341,901 | D | ||||
Stock Option (Right to Buy) | $1.6 | 06/12/2009 | F | 92,869(2) | 10/01/2007(3) | 03/01/2017 | Common Stock | 92,869 | $0 | 249,032 | D |
Explanation of Responses: |
1. Transaction represents common stock acquired by the Reporting Person, upon the cashless exercise of stock options reflected in Table II of this Form 4. |
2. The Reporting Person pledged certain stock options to secure the Reporting Person's promissory note with a private lender. The note was due and the lender foreclosed on the collateral. The lender exercised a total of 136,401 stock options, on a cashless basis, at the market price of $2.35 per share, less an exercise price of $1.60 per share, and received 43,532 shares of common stock in payment of the amount owing under the note. This transaction was initiated by the lender and not by the Reporting Person. The lender deemed the price of the common stock to be $2.35 per share, which was the closing market price on June 12, 2009, the date of the foreclosure and transfer. |
3. The stock options were granted to the Reporting Person on March 1, 2007; 66,667 options vested on October 1, 2007, 66,666 options vested on March 1, 2008 and 3,068 options vested on October 1, 2008 pursuant to the 2007 Stock Option and Restricted Stock Plan. |
Elliot Kaplan | 06/16/2009 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* 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). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
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 Number. |