SEC Form 4 · accession 0001209191-18-003644
Cascadian Therapeutics, Inc. · CASC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gary Christianson
Officer — Chief Operating Officer
Period of report
Jan 11, 2018
Accepted (ET)
Jan 16, 2018 · 5:24 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 | Jan 11, 2018 | M | 2,825 | $0.00 | A | 7,438 | D | |
| Common StockF2 | Jan 11, 2018 | F | 923 | $3.92 | D | 6,515 | 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)F3,F4 | — | Jan 11, 2018 | M | 2,825 | D | — | Jan 11, 2027 | Common Stock | 2,825 | 8,475 | D |
Explanation of responses
- F1Includes the acquisition of shares under the issuer's stock purchase plan in the following amounts and on the following dates: (a) 534 (post reverse stock split) shares acquired on June 16, 2015, (b) 431 (post reverse stock split) shares acquired on December 15, 2015 and (c) 240 (post reverse stock split) shares acquired on June 15, 2016.
- F2923 shares of the restricted share unit ("RSU") grant, which represent approximately 33% of the shares underlying the RSU grant that vested on January 11, 2018, 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 January 11, 2018 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.
- F3Approximately 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.
- F4Twenty-five percent of the shares underlying the RSU vest on each of January 11, 2018, January 11, 2019, January 11, 2020 and January 11, 2021, subject to the holder's continued employment with the issuer on each vesting date.