Page 3 of 4 – SEC Filing
Item 1. Security and Issuer.
The
class of securities to which this statement relates is the common
stock, par value $0.01 per share (the “Common Stock”),
of Echo Therapeutics, Inc. (the “Company”). The
Company’s principal executive offices are located at 99 Wood
Avenue South., Suite 302, Iselin, NJ 08830.
class of securities to which this statement relates is the common
stock, par value $0.01 per share (the “Common Stock”),
of Echo Therapeutics, Inc. (the “Company”). The
Company’s principal executive offices are located at 99 Wood
Avenue South., Suite 302, Iselin, NJ 08830.
Item 2. Identity and Background.
(a)
This statement is being filed by Alan W. Schoenbart, the Chief
Executive Officer, Chief Financial Officer and director of the
Company.
This statement is being filed by Alan W. Schoenbart, the Chief
Executive Officer, Chief Financial Officer and director of the
Company.
(b) The
business address for Mr. Schoenbart is c/o Echo Therapeutics, Inc.,
99 Wood Avenue South., Suite 302, Iselin, NJ 08830.
business address for Mr. Schoenbart is c/o Echo Therapeutics, Inc.,
99 Wood Avenue South., Suite 302, Iselin, NJ 08830.
(c) Mr.
Schoenbart is the Chief Executive Officer, Chief Financial Officer
and director of the Company. The address for the Company is set
forth above in Item 1.
Schoenbart is the Chief Executive Officer, Chief Financial Officer
and director of the Company. The address for the Company is set
forth above in Item 1.
(d) Mr.
Schoenbart has not, during the last five years, been convicted in a
criminal proceeding (excluding traffic violations or similar
misdemeanors).
Schoenbart has not, during the last five years, been convicted in a
criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) Mr.
Schoenbart has not, during the last five years, been a party to a
civil proceeding of a judicial or administrative body of competent
jurisdiction and was or is not as a result of such proceeding
subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with
respect to such laws.
Schoenbart has not, during the last five years, been a party to a
civil proceeding of a judicial or administrative body of competent
jurisdiction and was or is not as a result of such proceeding
subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with
respect to such laws.
(f) Mr.
Schoenbart is a citizen of the United States.
Schoenbart is a citizen of the United States.
Item 3. Source and Amount of Funds or Other
Consideration.
The
response to Item 4 is incorporated herein by
reference.
response to Item 4 is incorporated herein by
reference.
Item
4.
4.
Purpose
of Transaction
of Transaction
On
March 21, 2017, in connection with his appointment as Chief
Executive Officer, the Company granted to Mr. Schoenbart an option
(“Option”) to purchase 500,000 shares of Common Stock
pursuant to the Company’s 2008 Equity Incentive Plan. The
Option has a term of 10 years, an exercise price of $0.16 per
share, the closing price of the Common Stock on the date of grant,
and vested in full immediately on grant. Mr. Schoenbart was also
granted 100,000 restricted shares of Common Stock pursuant to the
Company’s 2008 Equity Incentive Plan, which shares vested in
full immediately on grant.
March 21, 2017, in connection with his appointment as Chief
Executive Officer, the Company granted to Mr. Schoenbart an option
(“Option”) to purchase 500,000 shares of Common Stock
pursuant to the Company’s 2008 Equity Incentive Plan. The
Option has a term of 10 years, an exercise price of $0.16 per
share, the closing price of the Common Stock on the date of grant,
and vested in full immediately on grant. Mr. Schoenbart was also
granted 100,000 restricted shares of Common Stock pursuant to the
Company’s 2008 Equity Incentive Plan, which shares vested in
full immediately on grant.
Except
as set forth herein, the Reporting Persons has no present plan or
proposal that would relate to or result in any of the matters set
forth in subparagraphs (a)-(j) of Item 4 of Schedule
13D.
as set forth herein, the Reporting Persons has no present plan or
proposal that would relate to or result in any of the matters set
forth in subparagraphs (a)-(j) of Item 4 of Schedule
13D.
Item 5. Interest in Securities of the Issuer.
(a) The
aggregate number of shares of Common Stock beneficially owned by
the Reporting Person is 774,500, of which 600,000 shares are
underlying currently exercisable stock options. Such amount
represents beneficial ownership of 5.6% of the Common Stock of the
Company (based on 13,197,278 shares outstanding as of the date
hereof).
aggregate number of shares of Common Stock beneficially owned by
the Reporting Person is 774,500, of which 600,000 shares are
underlying currently exercisable stock options. Such amount
represents beneficial ownership of 5.6% of the Common Stock of the
Company (based on 13,197,278 shares outstanding as of the date
hereof).
(b) The
number of shares of Common Stock as to which Mr. Schoenbart
has:
number of shares of Common Stock as to which Mr. Schoenbart
has:
1. Sole
power to vote or to direct vote is 774,500.
power to vote or to direct vote is 774,500.
2.
Shared
power to vote or to direct vote is 0.
Shared
power to vote or to direct vote is 0.
3.
Sole
power to dispose or to direct the disposition is
774,500.
Sole
power to dispose or to direct the disposition is
774,500.
4.
Shared
power to dispose or to direct the disposition is 0.
Shared
power to dispose or to direct the disposition is 0.
(c) On
March 21, 2017, in connection with his appointment as Chief
Executive Officer, the Company granted to Mr. Schoenbart the Option
to purchase 500,000 shares of Common Stock and 100,000 restricted
shares of Common Stock. Other than the forgoing, Mr. Schoenbart has
not effected any transactions with respect to any securities of the
Company during the past sixty days.
March 21, 2017, in connection with his appointment as Chief
Executive Officer, the Company granted to Mr. Schoenbart the Option
to purchase 500,000 shares of Common Stock and 100,000 restricted
shares of Common Stock. Other than the forgoing, Mr. Schoenbart has
not effected any transactions with respect to any securities of the
Company during the past sixty days.
(d) Not
Applicable.
Applicable.
(e) Not
Applicable.
Applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to the
Securities
of the Issuer
None.
Item 7. Material to be Filed as Exhibits.
None.
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