SEC Form 4 · accession 0001209191-16-148104

Tobira Therapeutics, Inc. · TBRA

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Dennis Podlesak

Director

Period of report

Nov 1, 2016

Accepted (ET)

Nov 3, 2016 · 2:27 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001311596

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	D/I
Employee Stock Option (Right to Buy)^F1,F2,F3,F4	$112.77	Nov 1, 2016	D	232	D	—	Feb 13, 2018	Common Stock	232	D
Employee Stock Option (Right to Buy)^F1,F2,F3,F4	$112.77	Nov 1, 2016	D	9,314	D	—	Aug 1, 2018	Common Stock	9,314	D
Employee Stock Option (Right to Buy)^F1,F2,F3,F4	$105.21	Nov 1, 2016	D	232	D	—	Dec 8, 2018	Common Stock	232	D
Employee Stock Option (Right to Buy)^F1,F2,F3,F4	$40.59	Nov 1, 2016	D	10,253	D	—	Apr 30, 2020	Common Stock	10,253	D
Employee Stock Option (Right to Buy)^F1,F2,F3,F4	$36.00	Nov 1, 2016	D	40,733	D	—	Aug 26, 2023	Common Stock	40,733	D
Employee Stock Option (Right to Buy)^F1,F2,F3,F4	$42.93	Nov 1, 2016	D	1,071	D	—	Dec 31, 2023	Common Stock	1,071	D
Employee Stock Option (Right to Buy)^F1,F2,F3,F4	$16.52	Nov 1, 2016	D	27,500	D	—	Jul 8, 2025	Common Stock	27,500	D
Employee Stock Option (Right to Buy)^F1,F2,F3,F4	$7.91	Nov 1, 2016	D	53,334	D	—	Jan 12, 2026	Common Stock	53,334	D
Employee Stock Option (Right to Buy)^F1,F2,F3,F4	$34.56	Nov 1, 2016	D	2,947	D	—	Apr 25, 2022	Common Stock	2,947	D
Employee Stock Option (Right to Buy)^F1,F2,F3,F4	$8.19	Nov 1, 2016	D	17,695	D	—	Jan 1, 2025	Common Stock	17,695	D

Explanation of responses

F1Pursuant to the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated September 19, 2016, by and among the Issuer, Allergan Holdco US, Inc. ("Parent") and Sapphire Acquisition Corp. ("Purchaser"), pursuant to which Purchaser was merged with and into Issuer (the "Merger"), each option to purchase shares (a "Company Option") of common stock, par value $0.001 per share, of Tobira Therapeutics, Inc. (the "Shares") that was then outstanding and unexercised, whether or not vested and which had a per-Share exercise price less than $28.35 per Share in cash (the "Closing Amount") (each, an "In the Money Option"), was cancelled and converted into the right to receive (i) a cash payment equal to (A) the excess, if any, of (x) the Closing Amount over (y) the exercise price payable per Share under such In the Money Option, multiplied by (B) the total number of Shares subject to such In the Money Option immediately prior to the effective time of the Merger (the "Effective Time")
F2(continued from Footnote 1) and (ii) a contingent value right with respect to the total number of Shares subject to such In the Money Option immediately prior to the Effective Time. At the Effective Time, each Company Option other than an In the Money Option that was then outstanding and unexercised, whether or not vested (each, an "Out of the Money Option"), was cancelled and converted into the right to receive a cash payment, if any, from Parent with respect to each Share subject to such Out of the Money Option upon each date that a payment would be required to a holder of a contingent value right under the terms of the Contingent Value Rights Agreement ("CVR Agreement") on or prior to the fifth anniversary of the Effective Time (each such date, a "Valuation Point"),
F3(continued from Footnote 1) equal to (i) the amount by which the sum of (A) the Closing Amount, (B) the amount per Share previously paid in respect of any earlier Valuation Points and (C) the amount per Share in cash to be paid at such Valuation Point under the CVR Agreement exceeds the exercise price payable per Share under such Out of the Money Option, less (ii) the amount of all payments previously received with respect to such Out of the Money Option. Notwithstanding the foregoing description, any Out of the Money Options with an exercise price payable per Share equal to or greater than $78.19 were cancelled at the Effective Time without any consideration payable therefor.
F4The Shares subject to this option were fully vested immediately prior to the Effective Time.