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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF 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. | SEC 1473 (7-02) | ||
| 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. | |||
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1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Restricted Stock Unit | (1) | (1) | Common Stock | 150,000 (1) | $ 0 | D | |
| Stock Options | (2) | 05/21/2034 | Common Stock | 300,000 (2) | $ 0.26 | D | |
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| Pagen Melissa 47 COX GULCH ROAD THOMPSON FALLS, MT 59873 |
SVP Corp Dev & Gov't Relations | |||
| /s/ Melissa M. Pagen | 05/31/2024 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 5(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) | Represents shares of Common Stock underlying a restricted stock unit ("RSU") award granted on May 21, 2024 under the Issuer's 2023 Equity Incentive Plan. The RSU will vest as to one-third of the 150,000 total number of shares on May 21, 2025, or 50,000 shares, and an additional one-third of the total number of shares on May 21, 2026 and May 21, 2027, subject to the Reporting Person's continued service through each vesting date. |
| (2) | Represents shares of Common Stock underlying a stock option award granted on May 21, 2024 under the Issuer's 2023 Equity Incentive Plan. A certain percentage of the 300,000 total number of stock options vest upon meeting any of the performance conditions specified in the grant at any time during the 10-year term of the award, subject to the Reporting Person's continued service through each vesting date. |