SEC Form 3 · accession 0001209191-18-025889
Novan, Inc. · NOVN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Andrew Novak
Officer — Chief Accounting Officer
Period of report
Apr 12, 2018
Accepted (ET)
Apr 23, 2018 · 5:29 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001467154
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common stock | holding | — | — | — | 1,300 | I | By spouse |
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 | $20.64 | holding | — | — | — | — | Nov 2, 2026 | Common Stock | 5,778 | — | D |
| Employee Stock Option (Right to Buy)F2 | $6.95 | holding | — | — | — | — | Mar 6, 2027 | Common Stock | 1,185 | — | D |
| Employee Stock Option (Right to Buy)F3 | $3.03 | holding | — | — | — | — | Nov 30, 2027 | Common Stock | 4,000 | — | D |
| Employee Stock Option (Right to Buy)F4 | $3.03 | holding | — | — | — | — | Feb 11, 2028 | Common Stock | 5,346 | — | D |
Explanation of responses
- F1The option shall become vested and exercisable in three equal annual installments, with the first installment vesting on July 27, 2017 (the "Vesting Commencement Date"), such that the option shall be fully vested on the third anniversary of the Vesting Commencement Date.
- F2The Option shall become vested and exercisable in three equal installments, with 1/3 of the shares subject to the Option vesting immediately as of the 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.
- F3The option shall become vested and exercisable in three equal annual installments beginning on the first anniversary of December 1, 2017 (the "Vesting Commencement Date"), such that the option shall be fully vested on the third anniversary of the Vesting Commencement Date.
- F4The Option shall become vested and exercisable in three equal installments, with 1/3 of the shares subject to the Option vesting immediately as of the February 12, 2018 (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.
Remarks
Exhibit 24 - Power of Attorney