SEC Form 5 · accession 0001209191-17-009563
Cascadian Therapeutics, Inc. · CASC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Christopher S Henney
Director
Period of report
Dec 31, 2016
Accepted (ET)
Feb 10, 2017 · 4:40 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001412067
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jun 6, 2016 | M | 2,723 | $0.00 | A | 50,861 | D | |
| Common StockF2,F3 | Jun 6, 2016 | F | 681 | $7.38 | D | 50,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Share Unit (RSU)F1,F4,F5 | — | Jun 6, 2016 | M | 2,723 | D | — | — | Common Stock | 2,723 | 0 | D |
Explanation of responses
- F1Effective as of November 29, 2016, the issuer effected a 6-for-1 reverse split of its common stock. The number of shares above reflects the reverse stock split.
- F2681 shares (which number reflects post-reverse split shares) of the restricted share unit ("RSU") grant, which represent approximately 25% of the shares underlying the RSU grant that vested on June 6, 2016, were not issued to the reporting holder; instead the reporting holder received an amount in cash from the issuer equal to the value of such shares based on the closing price of the issuer's Common Stock on June 6, 2016, the most recent date prior to the vesting date on which the issuer's Common Stock was traded, to facilitate such holder's satisfaction of U.S. federal income tax obligations in connection with the vesting of the RSUs, which transaction does not represent a sale by the reporting person.
- F3Effective as of November 29, 2016, the issuer effected a 6-for-1 reverse split of its common stock. The price above reflects the reverse stock split.
- F4Approximately 75% of each RSU represents a contingent right to receive approximately 0.75 share of the issuer's Common Stock upon vesting and approximately 25% represents a contingent right to receive cash upon vesting, which cash will be used to facilitate such holder's satisfaction of U.S. federal income tax obligations in connection with the vesting of the RSUs.
- F5The RSU was 100% vested on June 6, 2016.