SEC Form 4 · accession 0001104659-16-123756
EMMAUS LIFE SCIENCES, INC. · EMMA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Yutaka Niihara
Officer — Chairman and CEO · Director · 10% Owner
Period of report
Jan 7, 2015
Accepted (ET)
May 26, 2016 · 7:05 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001420031
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 7, 2015 | M | 55,556 | $1.00 | A | 55,556 | I | See Footnote |
| Common Stock | Mar 18, 2016 | M | 22,222 | $4.50 | A | 22,222 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrants (right to buy)F1 | $1.00 | Jan 7, 2015 | M | 55,556 | D | Jan 17, 2013 | Jan 17, 2015 | Common Stock | 55,556 | 0 | I |
| Convertible Promissory NoteF2 | $4.50 | Sep 29, 2015 | A | — | A | Sep 29, 2016 | Sep 29, 2017 | Common Stock | 22,222 | 22,222 | D |
| Convertible Promissory NoteF3 | $4.50 | Nov 16, 2015 | A | — | A | Nov 16, 2016 | Nov 16, 2017 | Common Stock | 44,444 | 44,444 | D |
| Warrants (right to buy) | $5.00 | May 10, 2016 | A | 1,300,000 | A | May 10, 2016 | May 9, 2021 | Common Stock | 1,300,000 | 0 | D |
| OptionsF4 | $5.00 | May 10, 2016 | A | 300,000 | A | — | May 9, 2026 | Common Stock | 300,000 | 300,000 | D |
Explanation of responses
- F1Owned by Hope International Hospice, Inc.. The reporting person is the chief executive officer of Hope International Hospice, Inc. and has voting and investment power over such shares. The reporting person disclaims beneficial ownership of all securities held by Hope International Hospice, Inc., and this report should not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- F2The principal amount of the Convertible Promissory Note plus unpaid accrued interest (10% per annum) is convertible into shares of the Issuer's common stock. The 22,222 shares represents the number of shares into which the principal amount of the Convertible Promissory Note may be converted. The note is due on September 29, 2017.
- F3The principal amount of the Convertible Promissory Note plus unpaid accrued interest (10% per annum) is convertible into shares of the Issuer's common stock. The 44,444 shares represents the number of shares into which the principal amount of the Convertible Promissory Note may be converted. The note is due on November 16, 2017.
- F4The option vests one-third (1/3) on May 10, 2017, and thereafter will vest monthly in equal monthly amounts (or as close to an equal amount as possible) until May 10, 2019.