SEC Form 4 · accession 0001209191-17-053538
Cascadian Therapeutics, Inc. · CASC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Luke Nathaniel Walker
Officer — SVP, Clinical Development
Period of report
Sep 18, 2017
Accepted (ET)
Sep 20, 2017 · 9:12 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001412067
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 | $3.99 | Sep 18, 2017 | A | 50,000 | A | — | Sep 18, 2027 | Common Stock | 50,000 | 50,000 | D |
| Restricted Share Unit (RSU)F2,F3 | — | Sep 18, 2017 | A | 12,000 | A | — | Sep 18, 2021 | Common Stock | 12,000 | 12,000 | D |
Explanation of responses
- F1The option vests and is exercisable at the rate of 1/4th of the total shares on September 18, 2018 and then 1/48th of the total shares vest and are exercisable monthly thereafter, with 100% vested and exercisable on September 18, 2021, subject to the holder's continued employment with the issuer on each vesting date.
- F2Approximately 67% of each RSU represents a contingent right to receive approximately 0.67 share of the issuer's Common Stock upon vesting and approximately 33% represents a contingent right to receive cash upon vesting, which cash will be used to facilitate the holder's satisfaction of U.S. federal tax obligations in connection with the vesting of the RSUs.
- F3Twenty-five percent of the shares underlying the RSU vest on each of September 18, 2018, September 18, 2019, September 18, 2020 and September 18, 2021, subject to the holder's continued employment with the issuer on each vesting date.