SEC Form 4 · accession 0001104659-16-124527
EPIRUS Biopharmaceuticals, Inc. · EPRS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas A. Shea
Officer — Chief Financial Officer
Period of report
May 27, 2016
Accepted (ET)
May 31, 2016 · 4:52 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001135906
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | May 27, 2016 | A | 230,000 | A | — | — | Common Stock | 230,000 | 230,000 | D |
Explanation of responses
- F1Represents an award of restricted stock units ("RSUs"), each of which represents a contingent right to receive a share of the Issuer's common stock and has no expiration date. The award will vest over two years according to the following vesting schedule: (i) if a sale of the Issuer's B0W15 program occurs on or before May 27, 2017, then (a) 40% of the RSUs will vest on the date of such sale (the "Sale Date"), (b) 30% of the RSUs will vest on May 27, 2017 and (c) 30% of the RSUs will vest on May 27, 2018, and (ii) if the Sale Date does not occur on or prior to May 27, 2017, then (a) 50% of the RSUs will vest on May 27, 2017 and (b) 50% of the RSUs will vest on May 27, 2018; in any event provided the Reporting Person remains continuously employed by the Issuer through each vesting date.
- F2The vesting of any unvested portion of the award will be immediately accelerated if the Reporting Person's employment is terminated without cause, other than due to the Reporting Person's voluntary resignation, prior to the award being fully vested.