SEC Form 4 · accession 0000899243-17-014034
Ophthotech Corp. · OPHT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Jay Ross
Director
Period of report
May 18, 2017
Accepted (ET)
May 22, 2017 · 4:10 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001410939
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 18, 2017 | M | 1,750 | — | A | 3,500 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | May 18, 2017 | M | 1,750 | D | — | — | Common Stock | 1,750 | 0 | D |
| Stock Option (right to buy)F3 | $2.46 | May 19, 2017 | A | 16,000 | A | Jun 19, 2017 | May 18, 2027 | Common Stock | 16,000 | 16,000 | D |
Explanation of responses
- F1Restricted stock units converted into common stock on a one-for-one basis upon vesting of the units.
- F2As previously reported, on June 2, 2016 the Issuer awarded the Reporting Person a Restricted Stock Unit award which represented the contingent right to receive 1,750 shares of Issuer common stock. Pursuant to the terms of a Restricted Stock Unit Agreement by and between the Reporting Person and the Issuer, this Restricted Stock Unit award vested on May 18, 2017 with respect to 100% of the shares subject to the award, and the shares were issued to the Reporting Person.
- F3Subject to Reporting Person providing continued services to the Issuer and other terms and conditions under a stock option agreement by and between the Reporting Person and the Issuer, The option will vest and become exercisable in 12 consecutive, equal monthly installments commencing on June 19, 2017 until fully vested and exercisable on the first anniversary of the date of grant. Any unvested shares subject to the option will be accelerated in full one business day prior to the Issuer's 2018 annual meeting of stockholders.