SEC Form 4 · accession 0001493152-17-012358
Advaxis, Inc. · ADXS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert Petit
Officer — Chief Scientific Officer
Period of report
Oct 31, 2017
Accepted (ET)
Nov 2, 2017 · 5:54 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001100397
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Oct 31, 2017 | A | 432 | $3.40 | A | 237,265 | D | |
| Common StockF2,F3 | Nov 2, 2017 | S | 12,625 | $3.19 | D | 224,640 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reporting person voluntarily purchases restricted stock directly from the Company at market price on the last trading day of the month pursuant to an arrangement that was approved by the Compensation Committee of the Company's Board of Directors in a manner that satisfied Exchange Act Rule 16b-3(d). The Company utilizes the net withholding method for each monthly purchase. The reporting person purchased a gross amount of 769 shares of which 337 shares were forfeited to pay withholding taxes associated with the stock issuance.
- F2In connection with the vesting of 28,827 shares on November 1, 2017, a total of 12,625 of such shares were withheld by the Company in order to satisfy the reporting person's tax withholding obligations. The reporting person had no discretion with respect to such sale, which was conducted automatically in accordance with the issuer's corporate policies.
- F3Reflects the weighted average sale price. The range of prices for such transaction is $3.15 to $3.21. The reporting person effected multiple same-way open market sale transactions on the same day at different prices through a trade order executed by a broker-dealer. The reporting person reported on a single line all such transactions that occurred within a one dollar price range. The reporting person hereby undertakes to provide upon request by the Securities Exchange Commission staff, the issuer, or a shareholder of the issuer, full information regarding the number of shares sold at each separate price.