SEC Form 4 · accession 0001209191-15-007638
PORTOLA PHARMACEUTICALS INC · PTLA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William Lis
Officer — Chief Executive Officer · Director
Period of report
Jan 27, 2015
Accepted (ET)
Jan 29, 2015 · 8:06 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001269021
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 27, 2015 | A | 27,500 | $0.00 | A | 27,500 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F2 | $29.72 | Jan 27, 2015 | A | 130,000 | A | — | Jan 26, 2025 | Common Stock | 130,000 | 130,000 | D |
| Performance Stock UnitF3 | — | Jan 27, 2015 | A | 70,000 | A | — | Jan 27, 2019 | Common Stock | 70,000 | 70,000 | D |
Explanation of responses
- F1Grant of Restricted Stock Units ("RSU") in consideration of services rendered. The RSU vests annually over three years commencing on March 1, 2015, subject to Reporting Person's Continuous Service (as defined in the Issuer's 2013 Equity Incentive Plan) as of each such date.
- F2The Option shall vest as follows: 1/48th of the shares subject to the option shall vest each month after January 1, 2015, subject to the Reporting Person's Continuous Service as of each such date.
- F3Each Performance Stock Unit ("PSU") represents a contingent right to receive one share of Issuer's Common Stock. The PSU's vest as follow: half of the shares subject to each PSU will be earned when the average closing price of Issuer's stock on the NASDAQ Global Select Market is above $50.00 per share for 45 consecutive trading days, and an additional half of the shares will be earned when the average closing price of Issuer's stock is above $60.00 per share for 45 consecutive trading days. Any shares earned will then vest on the one year anniversary of the date such shares were earned, subject to Reporting Person's Continuous Service as of each such date.