SEC Form 4 · accession 0001209191-18-049675
PORTOLA PHARMACEUTICALS INC · PTLA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mardi Dier
Officer — Interim Co-President & CFO
Period of report
Aug 31, 2008
Accepted (ET)
Sep 5, 2018 · 7:27 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 | Aug 31, 2018 | M | 17,500 | $0.00 | A | 107,684 | D | |
| Common StockF2 | Sep 4, 2018 | F | 8,884 | $29.1764 | D | 98,800 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Each Performance Stock Unit ("PSU") granted on January 27, 2015 pursuant to the Issuer's 2013 Equity Incentive Plan represented a contingent right to receive one share of Issuer's Common Stock. These PSUs were earned based on achievement of the market performance conditions and were subject to an additional one year period of service. 50% of the PSUs vested on July 28, 2018 and 50% vested on August 31, 2018.
- F2Represents the number of shares required to be sold by the reporting person to cover tax withholding obligations in connection with the vesting of Performance Stock Units. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person. The sale is intended to comply with the requirements of Rule 10b5-1(c)(1)(i)(B) under the Exchange Act and be interpreted to meet the requirements of Rule 10b5-1(c).