SEC Form 4 · accession 0001209191-15-054367
PORTOLA PHARMACEUTICALS INC · PTLA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Tao Fu
Officer — EVP, CBO
Period of report
Jun 16, 2015
Accepted (ET)
Jun 17, 2015 · 7:00 pm EDT
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 | Jun 15, 2015 | A | 2,500 | $0.00 | A | 2,500 | 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 | $44.39 | Jun 15, 2015 | A | 140,000 | A | — | Jun 15, 2025 | Common Stock | 140,000 | 140,000 | D |
| Performance Stock UnitF3 | — | Jun 15, 2015 | A | 25,000 | A | — | Jan 15, 2019 | Common Stock | 25,000 | 25,000 | D |
Explanation of responses
- F1Grant of Restricted Stock Units ("RSU") in consideration of services rendered. The RSU's will vest in three equal tranches on March 1, 2016, March 1, 2017, and March 1, 2018, subject to Reporting Person's Continuous Service (as defined in the Issuer's 2013 Equity Incentive Plan) as of each such date.
- F2The option shares shall be subject to a four (4) year vesting schedule, such that 1/4th of the shares subject to such option shall vest on the one (1) year anniversary of the grant date, thereafter, 1/48th of the shares subject to such option shall vest each month for thirty-six (36) months, subject to Reporting Person's Continuous Service as of each such date.
- F3Each Performance Stock Unit ("PSU") represents a contingent right to receive one (1) share of Issuer's Common Stock. The PSU's vest as follow: 5,000 shares subject to each PSU will be earned when the average closing price of Issuer's Common Stock on the NASDAQ Global Select Market is above $50.00 per share over a period of forty-five (45) consecutive trading days, and an additional 20,000 shares will be earned when the average closing price of Issuer's Common Stock is above $60.00 per share over a period of forty-five (45) consecutive trading days. Any shares earned will then vest on the one (1) year anniversary of the date such shares were earned, subject to Reporting Person's Continuous Service as of each such date.