SEC Form 4 · accession 0001209191-17-041854
PURE BIOSCIENCE, INC. · PURE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William Otis
Director
Period of report
Jun 22, 2017
Accepted (ET)
Jun 26, 2017 · 4:57 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001006028
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jun 22, 2017 | A | 150,000 | $0.00 | A | 172,666 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F3 | $1.19 | Jun 22, 2017 | A | 200,000 | A | — | Jun 22, 2027 | Common Stock | 200,000 | 200,000 | D |
Explanation of responses
- F1Represents the issuance of restricted stock units (the "RSUs"). The RSUs vest as follows: (i) 50% of the RSUs will vest on the earlier of the date of the Issuer's annual meeting of stockholders held in 2018 or January 15, 2018 and (ii) 50% of the RSUs will vest on the earlier of the date of the Issuer's annual meeting of stockholders held in 2019 or January 15, 2019. Vested shares will be delivered to the Reporting Person on the earlier of (i) the ten-year anniversary of the Grant Date; (ii) sixty days after the date the Grantee's Service ceases for any reason and such cessation constitutes a "separation from service" within the meaning of Section 409A of the Code; (iii) the date of Grantee's death or (iv) the date of a Change in Control that constitutes a "change in control event" within the meaning of Section 409A of the Code.
- F2Reflects the cancellation of 200,000 Restricted Stock Units pursuant to the RSU Cancellation Agreement between the Issuer and the Reporting Person, dated December 13, 2016.
- F3The option shares shall vest and become exercisable as follows: (i) 50% of the option will vest on the earlier of the date of the Issuer's annual meeting of stockholders held in 2018 or January 15, 2018 and (ii) 50% of the options will vest on the earlier of the date of the Issuer's annual meeting of stockholders held in 2019 or January 15, 2019.