SEC Form 4 · accession 0000899243-17-029728
Larimar Therapeutics, Inc. · LRMR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey S. Hatfield
Officer — Chief Executive Officer · Director
Period of report
Dec 29, 2017
Accepted (ET)
Dec 29, 2017 · 4:30 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001374690
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 | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F1,F2 | $3.40 | Dec 29, 2017 | A | 1,100,000 | A | — | Oct 9, 2027 | Common Stock | 1,100,000 | 1,100,000 | D |
Explanation of responses
- F1This option was granted on October 9, 2017, subject to vesting based on the Issuer's stock price appreciation and certain financial performance goals. The financial performance goals were waived on December 29, 2017 and therefore the option is deemed a reportable derivative security as of such date.
- F2The option vests and becomes exercisable based on the Issuer's common stock price during the two years after the first anniversary of the date of grant as follows: 25% of shares subject to the option vest after the stock price is equal to or greater than $10.00 per share for 20 consecutive trading days; and an additional 6.25% of the shares subject to the option vest for every additional $2.50 in stock price above $10.00 per share for 20 consecutive trading days. The option has been granted pursuant to an inducement award agreement outside of the company's 2014 Stock Option and Incentive Plan as a material inducement to the reporting person's acceptance of employment with the company in accordance with NASDAQ Listing Rule 5635(c)(4).