SEC Form 4 · accession 0001209191-19-016478
Flexion Therapeutics Inc · FLXN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael D. Clayman
Officer — President and CEO · Director
Period of report
Mar 1, 2019
Accepted (ET)
Mar 5, 2019 · 4:23 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001419600
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 | $14.75 | Mar 1, 2019 | A | 360,000 | A | — | Feb 28, 2029 | Common Stock | 360,000 | 360,000 | D |
Explanation of responses
- F1With respect to 290,000 of the shares subject to the option, 25% of such shares shall vest on the one year anniversary of January 1, 2019 (the "Vesting Commencement Date") and thereafter 1/48th of such shares shall vest each month following the one year anniversary of the Vesting Commencement Date, so that all such shares shall be vested four years after the Vesting Commencement Date. With respect to 70,000 of the shares subject to the option, if the Company's 2019 revenues from ZILRETTA product sales are at least a specified amount, then 17,500 of such shares shall vest on January 1, 2020 and thereafter 1/48th of such shares shall vest each month following January 1, 2020, so that all of such shares shall be vested four years after January 1, 2019.