SEC Form 4 · accession 0000899243-16-029936
BIODELIVERY SCIENCES INTERNATIONAL INC · BDSI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Niraj Vasisht
Officer — Chief Technology Officer
Period of report
Sep 21, 2016
Accepted (ET)
Sep 23, 2016 · 6:30 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001103021
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Sep 21, 2016 | A | 4,661 | $0.00 | A | 73,081 | D | |
| Common StockF2 | Sep 21, 2016 | M | 27,666 | $0.00 | A | 100,747 | D | |
| Common StockF3 | Sep 21, 2016 | M | 16,667 | $0.00 | A | 117,414 | D | |
| Common StockF4 | Sep 21, 2016 | M | 24,980 | $0.00 | A | 142,394 | D | |
| Common StockF5 | Sep 21, 2016 | M | 66,667 | $0.00 | A | 209,061 | D | |
| Common StockF7 | Sep 21, 2016 | S | 40,000 | $2.39 | D | 169,061 | D | |
| Common StockF9 | Sep 23, 2016 | S | 7,000 | $2.68 | D | 162,061 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Units | $0.00 | Sep 21, 2016 | M | 27,666 | D | Feb 20, 2016 | Sep 21, 2016 | Common Stock | 27,666 | 0 | D |
| Restricted Stock Units | $0.00 | Sep 21, 2016 | M | 16,667 | D | Jan 30, 2016 | Jan 30, 2017 | Common Stock | 16,667 | 16,666 | D |
| Restricted Stock Units | $0.00 | Sep 21, 2016 | M | 24,980 | D | Feb 22, 2016 | Feb 22, 2017 | Common Stock | 24,980 | 24,980 | D |
| Restricted Stock Units | $0.00 | Sep 21, 2016 | M | 66,667 | D | Feb 23, 2016 | Feb 23, 2018 | Common Stock | 66,667 | 133,333 | D |
Explanation of responses
- F1The shares of common stock reported on this Form 4 were acquired by the Reporting Person in connection with the vesting of Restricted Stock Units ("RSUs") granted to the Reporting Person under the Issuer's Long Term Incentive Plan. Pursuant to a deferral, these RSUs vested on September 21, 2016.
- F2The shares of common stock were acquired by the Reporting Person as a result of the vesting of 27,666 RSUs granted to the Reporting Person on February 20, 2013 under the Issuer's 2011 Equity Incentive Plan, as amended (the "Plan"). Pursuant to a deferral, these RSUs vested on September 21, 2016.
- F3The shares of common stock were acquired by the Reporting Person as a result of the vesting of one-half of the RSUs granted to the Reporting Person on January 30, 2014 under the Plan. Pursuant to a deferral, these RSUs vested on September 21, 2016. The remaining half of the RSUs under this grant will vest on January 30, 2017.
- F4The shares of common stock were acquired by the Reporting Person as a result of the vesting of one-half of the RSUs granted to the Reporting Person on February 22, 2014 under the Plan. Pursuant to a deferral, these RSUs vested on September 21, 2016. The remaining half of the RSUs under this grant will vest on February 22, 2017.
- F5The shares of common stock were acquired by the Reporting Person as a result of the vesting of one-third of the RSUs granted to the Reporting Person on February 23, 2015 under the Plan. Pursuant to a deferral, these RSUs vested on September 21, 2016. The remainder of the RSUs under this grant will vest in equal portions on each of (i) February 23, 2017 and (ii) February 23, 2018.
- F6The shares of common stock were sold under a pre-planned 10b5-1 trading plan and were sold to cover the Reporting Person's tax liability upon the vesting of RSUs.
- F7On September 21, 2016, the Reporting Person sold an aggregate of 40,000 shares of the Issuer's Common Stock at a weighted average price of $2.39 per share. The highest sale price for the Common Stock was $2.45 per share and the lowest sale price was $2.35 per share. The Reporting Person undertakes to provide the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F8The shares of common stock were sold upon expiration of a pre-planned 10b5-1 trading plan, and were sold to cover the Reporting Person's additional tax liability upon the vesting of RSUs.
- F9On September 23, 2016, the Reporting Person sold an aggregate of 7,000 shares of the Issuer's Common Stock at a weighted average price of $2.68 per share. The highest sale price for the Common Stock was $2.81 per share and the lowest sale price was $2.58 per share. The Reporting Person undertakes to provide the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.