SEC Form 4 · accession 0001100441-19-000016
RTI SURGICAL, INC. · RTIX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John N Varela
Officer — EVP Global Operations
Period of report
Mar 8, 2019
Accepted (ET)
Mar 12, 2019 · 10:44 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001100441
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3,F4 | Mar 8, 2019 | D | 83,633 | — | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option to purchase Common StockF5 | $4.26 | Mar 8, 2019 | D | 20,000 | D | — | Jul 14, 2024 | Common Stock | 20,000 | 0 | D |
| Option to purchase Common StockF6 | $5.23 | Mar 8, 2019 | D | 30,000 | D | — | Feb 17, 2025 | Common Stock | 30,000 | 0 | D |
| Option to purchase Common StcokF7 | $3.31 | Mar 8, 2019 | D | 38,710 | D | — | Feb 24, 2026 | Common Stock | 38,710 | 0 | D |
| Option to purchase Common StockF8 | $4.60 | Mar 8, 2019 | D | 48,458 | D | — | May 3, 2027 | Common Stock | 48,458 | 0 | D |
| Option to purchase Common StockF9 | $4.25 | Mar 8, 2019 | D | 43,700 | D | — | Feb 28, 2028 | Common Stock | 43,700 | 0 | D |
Explanation of responses
- F1On March 8, 2019, pursuant to the Master Transaction Agreement, by and among the Issuer, RTI Surgical, Inc., a Delaware corporation ("Old RTI"), PS Spine Holdco, LLC, a Delaware limited liability company (the "Member"), and Bears Merger Sub, Inc., a Delaware corporation (the "Merger Sub"): (a) the Merger Sub merged with and into Old RTI, with Old RTI surviving as a wholly-owned subsidiary of the Issuer (the "Merger"); (b) the Member contributed all of the issued and outstanding membership interests of Paradigm Spine, LLC, a Delaware limited liability company and wholly owned subsidiary of the Member, to the Issuer; and (c) the Issuer was renamed "RTI Surgical Holdings, Inc."
- F2Pursuant to the Master Transaction Agreement, at the effective time of the Merger: (a) each issued and outstanding share of common stock of Old RTI converted automatically into one share of the Issuer's common stock; (b) each issued and outstanding share of Series A Convertible Preferred Stock of Old RTI converted automatically into one share of the Issuer's Series A Convertible Preferred Stock; and (c) each stock option and restricted stock award granted by Old RTI converted into a stock option or restricted stock award, as applicable, of the Issuer with respect to an equivalent number of shares of the Issuer's common stock on the same terms and conditions as were applicable prior to the Closing. This report reflects the beneficial ownership of the reporting person at the time of the consummation of the Merger and does not include the securities of the Issuer acquired by the reporting person upon the consummation of the Merger.
- F3The reporting person will file a Form 4 reflecting his acquisition of the Issuer's securities in connection with the consummation of the Mergers.
- F4Total includes 29,208 shares of restricted stock that will vest on; 7,971 shares will vest on both 5/03/2019 and 5/03/2020, 6,633 shares will vest on both 2/29/2020 and 2/28/2021.
- F5Total includes 16,000 exercisable options and 4,000 options that become exercisable on 7/14/2019.
- F6Total includes 24,000 exercisable options and 6,000 that will become exercisable on 2/17/2020.
- F7Total includes 23,226 exercisable options and 7,742 will become exercisable on both 2/24/2020 and 2/24/2021.
- F8Total includes 9,692 exercisable options and 9,692 will become exercisable on both 5/03/2019 and 5/03/2020, and 9,691 on both 5/03/2021 and 5/03/2022.
- F9Total includes 8,740 exercisable options and 8,740 will become exercisable on each of 2/29/2020, 2/28/2021, 2/28/2022 and 2/28/2023.