SEC Form 4 · accession 0001437749-16-043350
Sun BioPharma, Inc. · SNBP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Scott Kellen
Officer — Chief Financial Officer
Period of report
Dec 12, 2016
Accepted (ET)
Dec 14, 2016 · 5:01 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001029125
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F1 | $1.51 | Dec 12, 2016 | A | 150,000 | A | — | Dec 12, 2026 | Common Stock | 150,000 | 150,000 | D |
| Employee Stock Option (right to buy)F2 | $1.51 | Dec 12, 2016 | A | 66,000 | A | Dec 12, 2016 | Dec 12, 2026 | Common Stock | 66,000 | 66,000 | D |
Explanation of responses
- F1Options scheduled to vest in eight equal installments on the last day of each calendar quarter, starting March 31, 2017.
- F2On December 12, 2016, the reporting person was granted an option to purchase up to 300,000 shares of common stock. The option vests proportionately based on cash proceeds received by, or contractually obligated to be remitted to, the issuer after June 1, 2016 and before December 31, 2018 from any transaction, excluding certain internal operating-related cash flows. The performance criteria was 22% satisfied on the date of grant, resulting in vesting of the option as to 66,000 shares.