SEC Form 4 · accession 0001209191-19-003820
PORTOLA PHARMACEUTICALS INC · PTLA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John T Curnutte
Officer — EVP R&D
Period of report
Jan 12, 2019
Accepted (ET)
Jan 15, 2019 · 8:11 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 12, 2019 | A | 1,750 | $0.00 | A | 101,200 | D | |
| Common StockF2 | Jan 15, 2019 | F | 715 | $24.25 | D | 100,485 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Each Performance Stock Unit ("PSU") granted March 29, 2018 represented a contingent right to receive one share of Issuer's Common Stock. 1,750 PSUs vested upon on January 12, 2019 certification by the Issuer's Compensation Committee of the FDA's December 31, 2018 approval of Andexxa Gen 2 in the United States. An additional 1,750 PSUs will vest on the first anniversary of the Certification Date.
- 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).