SEC Form 4 · accession 0001144204-16-124284
Protalix BioTherapeutics, Inc. · PLX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Yoseph Shaaltiel
Officer — Executive VP, R&D
Period of report
Sep 15, 2016
Accepted (ET)
Sep 16, 2016 · 5:01 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001006281
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Sep 15, 2016 | M | 122,162 | $0.001 | A | 585,916 | D | |
| Common StockF1,F2 | holding | — | — | — | 210,000 | I | By Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to Buy)F4,F3 | $0.001 | Sep 15, 2016 | M | 122,162 | D | — | — | Common Stock | 122,162 | 0 | D |
Explanation of responses
- F1Represents restricted shares of common stock of Protalix BioTherapeutics, Inc., issued under its 2006 Stock Incentive Plan, as amended June 17, 2012 (the "Plan"), all of which have vested. Vested restricted shares are subject to a lock-up for a 24-month period from the date of vesting. Notwithstanding the foregoing and subject to certain exceptions, the lock-up period will terminate immediately upon a Change in Control, as defined in the Plan.
- F2To qualify for certain tax benefits under Section 102 of the Israeli Tax Ordinance, securities issued to an employee in connection with the Plan must be registered in the name of a trustee.
- F3Represents exercise of all stock underlying the derivative security.
- F4Does not include options to purchase 263,728 shares of common stock at an exercise price equal to $5.00 per share that expire on February 7, 2018; options to purchase 50,000 shares of common stock at an exercise price equal to $2.65 per share that expire on February 25, 2019; options to purchase 145,000 shares of common stock at an exercise price equal to $6.90 per share that expire on February 25, 2020; and options to purchase 275,000 shares of common stock at an exercise price equal to $1.72 per share that expire on March 23, 2025.