SEC Form 4 · accession 0001551986-18-000067
INNOVATE BIOPHARMACEUTICALS, INC. · INNT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Saira Ramasastry
Director
Period of report
Dec 4, 2018
Accepted (ET)
Dec 7, 2018 · 5:21 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001551986
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F1 | $6.94 | Dec 4, 2018 | A | 50,000 | A | — | Sep 21, 2028 | Common stock | 50,000 | 50,000 | D |
| Stock Option (Right to Buy)F2 | $2.41 | Dec 4, 2018 | A | 25,000 | A | — | Dec 4, 2028 | Common stock | 25,000 | 25,000 | D |
Explanation of responses
- F1Grant to the reporting person of stock options under the Innovate Biopharmaceuticals, Inc. 2012 Omnibus Incentive Plan (the "Plan") that was approved by the Compensation Committee of the Board of Directors of Innovate Biopharmaceuticals, Inc. (the "Company") on September 21, 2018, subject to stockholder approval of an amendment to the Plan (the "Plan Amendment"). The Company's stockholders approved the Plan Amendment on December 4, 2018. 13,750 of these options vested on September 21, 2018, and 36,250 options vest monthly thereafter over 29 months.
- F2Grant to the reporting person of stock options under the Innovate Biopharmaceuticals, Inc. 2012 Omnibus Incentive Plan. These stock options vest in 36 equal monthly installments.