SEC Form 4 · accession 0001209191-18-030523
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
May 12, 2018
Accepted (ET)
May 16, 2018 · 4:43 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 | $3.14 | May 12, 2018 | A | 25,000 | A | — | Mar 31, 2028 | Common Stock | 25,000 | 25,000 | 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 May 12, 2018, the date of grant. Thereafter, 1/3 of the shares subject to the Option shall vest annually upon each anniversary of April 1, 2018 (the "Vesting Commencement Date"), such that the Option shall be fully vested and exercisable on the second anniversary of the Vesting Commencement Date.