| This Schedule relates to shares of common stock, par value $.01 per share of Lucid, Inc., a New York corporation (the “Company”). The Company’s principal executive offices are located at 2320 Brighton Henrietta Town Line Road, Rochester, New York 14623. |
| (a) The name of the person filing this Schedule is William J. Shea; (b) The residence address of the filer is 159 Bear Hill Road, North Andover, Massachussets 01845. (c) The person filing this Schedule is employed as the Chairman of the Board of Directors of the Company. (d) During the last five years, the person filing this schedule has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the last five years, the person filing this schedule has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is 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) The person filing this Schedule is a United States citizen. |
| The securities were acquired for investment purposes. Except for transactions in his capacity as an officer and director of the Company, Mr. Shea has no other present plans or proposals which relate to or would result in: (a) the acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer (although Mr. Shea may continue to receive shares of common stock or options as part of his compensation); (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Company or any subsidiary thereof; (c) a sale or transfer of a material amount of assets of the Company or any subsidiary; (d) any change in the present board of directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) any material change in the present capitalization or dividend policy of the Company; (f) any other material change in the Company’s business or corporate structure; (g) changes in the Company’s charter or bylaws, or instruments corresponding thereto or other actions which may impede the acquisition or control of the Company by any person; (h) causing a class of securities of the Company to be delisted from a national stock exchange or to cease to be quoted on NASDAQ; (i) a class of equity securities of the Company becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act; or (j) any action similar to any of those enumerated above. |
| (a) The filing person is the owner of 968,949 shares of common stock of the Company, representing 11.7 % of the issued and outstanding shares of the issuer (based on 7,840,477 shares of common stock issued and outstanding on December 31, 2011). Included in that number of shares is a total of 275,000 shares of common stock issuable upon exercise of employee stock options, of which 91,667 shares are vested and currently exercisable. As to the remaining 183,333 shares issuable upon exercise of outstanding options, those options vest and become exercisable as follows: 66,667 shares on May 27, 2012; 66,666 shares on May 27, 2013; 25,000 shares on December 30, 2012; 25,000 shares on December 30, 2013. Also included in the total number of shares are 129,963 shares of common stock issuable upon the exercise of outstanding warrants to purchase common stock. (b) The filing person has sole power to vote and sole power to dispose or to direct the disposition of all of the shares of common stock covered by this Schedule. (c) On December 30, 2011, the Company completed a public offering of units, with each unit consisting of one share of common stock and one warrant to purchase one share of common stock. Upon the closing of that transaction: (i) an aggregate of 71,330 shares of common stock were issued to the filing person in connection with the automatic conversion of notes convertible into shares of common stock; (ii) an aggregate of 52,304 shares of common stock were issued to the filing person in connection with the automatic conversion of additional notes convertible into shares of common stock. In addition, the filing person purchased an aggregate of 71,330 units in the offering, at a purchase price of $4.20 per unit, which units included 71,330 shares of common stock and warrants related to the purchase of up to 71,330 shares of common stock. |
| Except with respect to a lock-up agreement, whereby the filing person has agreed not to sell any securities of the Company for a period of 180 days from the closing of the offering described in Item 5(c) above, the filing person is not a party to any contracts, arrangements, understandings or relationships with respect to any securities of the issuer. |