SEC Form 4 · accession 0001683168-18-000772
CV Sciences, Inc. · CVSI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Joseph Mona Jr.
Officer — CEO, President · Director · 10% Owner
Period of report
Jul 14, 2017
Accepted (ET)
Mar 28, 2018 · 8:02 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001510964
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,F2 | $0.368 | Jul 14, 2017 | A | 1,500,000 | A | Jul 14, 2017 | Jul 5, 2026 | Common Stock | 1,500,000 | 1,500,000 | D |
| Employee Stock Option (right to buy)F3 | $0.365 | Jul 14, 2017 | A | 1,250,000 | A | Jul 14, 2017 | Mar 14, 2027 | Common Stock | 1,250,000 | 1,250,000 | D |
Explanation of responses
- F1On July 6, 2016, the Reporting Person was granted an option to purchase 6,000,000 shares of the Issuer's Common Stock. The option is performance-based, and vests and becomes exercisable as follows: (i) the first time the Issuer completes development of a U.S. Food & Drug Administration ("FDA") current good manufacturing practice grade batch of successfully synthetically formulated Cannabidiol ("CBD") for use in drug development activities (25% vesting of the shares subject to the option); (ii) when the Company has final meeting minutes from a pre-investigational new drug application ("IND") meeting as authorized by the FDA for a drug development program utilizing CBD as the active pharmaceutical ingredient (25% vesting of the shares subject to the option); (iii) when the Company is granted an IND (25% vesting of the shares subject to the option); and (iv) when the Company commences its first human dosing under the IND (25% vesting of the shares subject to the option).
- F2On July 14, 2017, the second performance criterion was met resulting in vesting of the option as to 1,500,000 shares.
- F3On March 15, 2017, the Reporting Person was granted an option to purchase 5,000,000 shares of the Issuer's Common Stock. The option is performance-based, and vests and becomes exercisable as follows: (i) when the Company has final meeting minutes from a pre-IND meeting as authorized by the FDA for a drug development program utilizing CBD as the active pharmaceutical ingredient (25% vesting of the shares subject to the option); (ii) when the Company is granted an IND (25% vesting of the shares subject to the option); and (iii) when the Company commences its first human dosing under the IND (50% vesting of the shares subject to the option). On July 14, 2017, the first performance criterion was met resulting in vesting of the option as to 1,250,000 shares.