SEC Form 4 · accession 0001104659-17-003077
Invuity, Inc. · IVTY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James H Mackaness
Officer — Chief Financial Officer
Period of report
Jan 17, 2017
Accepted (ET)
Jan 19, 2017 · 3:59 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001393020
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F1 | $6.50 | Jan 17, 2017 | A | 40,000 | A | — | Jan 17, 2027 | Common Stock | 40,000 | 40,000 | D |
| Employee Stock Option (right to buy)F2 | $6.50 | Jan 17, 2017 | A | 40,000 | A | — | Jan 17, 2027 | Common Stock | 40,000 | 40,000 | D |
Explanation of responses
- F1The option vests and becomes exercisable over the course of a four-year period after January 1, 2017 (the "Vesting Period") only if (a) the average closing price per share of the Issuer's shares on the NASDAQ Global Market over a 60-trading day period meets or exceeds $12.00 per share or (b) the Issuer is sold and the acquisition price per share of the Issuer's shares meets or exceeds $12.00 per share (either (a) or (b), the "Price Hurdle") within a three-year period after the Transaction Date (the "Performance Period"). Upon achievement of the Price Hurdle during the Performance Period, a pro rata portion of the options shall vest immediately, with the remainder to vest in equal monthly installments for the remainder of the Vesting Period, subject to the Reporting Person continuing as a service provider through each vesting date. If the Price Hurdle is not achieved during the Performance Period, the option shall be cancelled.
- F2The option vests and becomes exercisable as to one-forty-eighth of the shares on February 1, 2017 and each one-month anniversary thereafter, subject to the Reporting Person continuing as a service provider through each vesting date.