SEC Form 4 · accession 0001701029-17-000007
Valeritas Holdings Inc. · VLRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John Edward Timberlake
Officer — See Remarks · Director
Period of report
Dec 5, 2017
Accepted (ET)
Dec 7, 2017 · 5:27 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001619250
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)F2,F1 | $7.12 | Dec 5, 2017 | D | 74,700 | D | — | Mar 23, 2027 | Common Stock | 74,700 | 187,500 | D |
Explanation of responses
- F1The option was granted on March 23, 2017 and provided for 25% vesting on September 23, 2017, the six-month anniversary of the original date of grant. The remaining shares underlying the option vest in 10 substantially equal quarterly installments upon completion of each additional three months of service measured after such six-month anniversary.
- F2On December 5, 2017, the reporting person surrendered 74,700 shares underlying the option, which represents a portion of the option that was inadvertently issued to the reporting person above the annual individual grant limit imposed by the Issuer's employee stock option plan. The revised option consists of 187,500 shares with an exercise price of $7.12 per share. As of the date of this report, 25% of the option (46,875 shares) has vested, and the remaining 140,625 shares underlying the option vest in accordance with the same schedule as set forth in (1) above.
Remarks
Chief Executive Officer and President