SEC Form 4 · accession 0001209191-17-059144
Novan, Inc. · NOVN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeff N Hunter
Officer — EVP & Chief Business Officer
Period of report
Nov 1, 2017
Accepted (ET)
Nov 3, 2017 · 4:06 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 | $5.48 | Nov 1, 2017 | A | 25,000 | A | Nov 1, 2017 | Jul 31, 2027 | Common Stock | 25,000 | 50,000 | D |
Explanation of responses
- F1On August 1, 2017, the reporting person received an employee stock option to buy 80,000 shares of common stock, with 25,000 shares subject to the option vesting immediately as of August 1, 2017 and the remaining 55,000 shares subject to the option vesting, if at all, upon satisfaction of certain performance criteria by the Company. The Company met one of the specified performance criteria, resulting in 25,000 shares subject to the option to vest on November 1, 2017.