SEC Form 4 · accession 0001209191-17-054016
Cascadian Therapeutics, Inc. · CASC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven P James
Director
Period of report
Sep 24, 2017
Accepted (ET)
Sep 26, 2017 · 5:20 pm EDT
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 Stock | Sep 24, 2017 | M | 2,375 | $0.00 | A | 14,271 | D | |
| Common StockF1 | Sep 24, 2017 | F | 594 | $3.94 | D | 13,677 | 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)F2,F3 | — | Sep 24, 2017 | M | 2,375 | D | — | — | Common Stock | 2,375 | 0 | D |
Explanation of responses
- F1594 shares of the restricted share unit ("RSU") grant, which represent approximately 25% of the shares underlying the RSU grant that vested on September 24, 2017, 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 September 22, 2017, 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.
- F2Approximately 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.
- F3The RSU was 100% vested on September 24, 2017.