SEC Form 4 · accession 0001209191-17-022764
Novan, Inc. · NOVN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeff N Hunter
Officer — VP of Technical Operations
Period of report
Mar 6, 2017
Accepted (ET)
Mar 24, 2017 · 4:31 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001467154
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F1 | $6.95 | Mar 6, 2017 | A | 11,665 | A | — | Mar 5, 2027 | Common Stock | 11,665 | 11,665 | D |
Explanation of responses
- F1The option shall become vested and exercisable in three equal installments, with 1/3 of the shares subject to the option vesting immediately as of March 6, 2017 (the "Grant Date"). Thereafter, 1/3 of the shares subject to the option shall vest annually upon each anniversary of the Grant Date, such that the option shall be fully vested and exercisable on the second anniversary of the Grant Date.