SEC Form 4 · accession 0001171843-15-000371
AKORN INC · AKRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Rajat Rai
Officer — Chief Executive Officer
Period of report
Jan 22, 2015
Accepted (ET)
Jan 26, 2015 · 6:26 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000003116
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 22, 2015 | M | 150,000 | $1.46 | A | 1,480,220 | D | |
| Common StockF2,F4 | Jan 22, 2015 | S | 70,656 | $41.26 | D | 1,409,564 | D | |
| Common StockF1 | Jan 22, 2015 | M | 554,988 | $2.61 | A | 1,964,552 | D | |
| Common StockF2,F4 | Jan 22, 2015 | S | 269,954 | $41.26 | D | 1,694,598 | D | |
| Common StockF1 | Jan 23, 2015 | M | 397,189 | $6.62 | A | 2,091,787 | D | |
| Common StockF2,F5 | Jan 23, 2015 | S | 216,929 | $42.10 | D | 1,874,858 | D | |
| Common StockF1 | Jan 23, 2015 | M | 195,012 | $2.61 | A | 2,069,870 | D | |
| Common StockF2,F5 | Jan 23, 2015 | S | 97,446 | $42.10 | D | 1,972,424 | D | |
| Common StockF1 | Jan 26, 2015 | M | 402,811 | $6.62 | A | 2,375,235 | D | |
| Common StockF2,F3,F6,F7 | Jan 26, 2015 | S | 219,000 | $42.55 | D | 2,156,235 | D |
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)F11,F8 | $1.46 | Jan 22, 2015 | M | 150,000 | D | — | Feb 22, 2015 | Common Stock | 150,000 | 0 | D |
| Stock Option (right to buy)F11,F9 | $2.61 | Jan 22, 2015 | M | 554,988 | D | — | May 21, 2015 | Common Stock | 554,988 | 195,012 | D |
| Stock Option (right to buy)F11,F10 | $6.62 | Jan 23, 2015 | M | 397,189 | D | — | Apr 29, 2016 | Common Stock | 397,189 | 402,811 | D |
| Stock Option (right to buy)F11,F9 | $2.61 | Jan 23, 2015 | M | 195,012 | D | — | May 21, 2015 | Common Stock | 195,012 | 0 | D |
| Stock Option (right to buy)F11,F10 | $6.62 | Jan 26, 2015 | M | 402,811 | D | — | Apr 29, 2016 | Common Stock | 402,811 | 0 | D |
Explanation of responses
- F1This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 16, 2014.
- F10The options vested in annual installments with 266,666 options vesting on April 29, 2012, and 266,667 options vesting on each of April 29, 2013, and April 29, 2014.
- F11There was no consideration given in exchange for the security.
- F2All proceeds from the sale were used to cover exercise price and taxes due upon exercise of options.
- F3Upon execution of transactions disclosed on this Form 4, all securities subject to the 10b5-1 trading plan have been transacted and the plan has expired pursuant to its terms.
- F4Reflects the weighted average sale price of the shares sold. The shares were sold in multiple trades at prices ranging from $40.80 to $42.24 per share. The reporting person will provide to the SEC staff, the issuer or a security holder of the issuer, upon request, full information regarding the number of shares sold at separate prices within the foregoing range.
- F5Reflects the weighted average sale price of the shares sold. The shares were sold in multiple trades at prices ranging from $41.59 to $42.65 per share. The reporting person will provide to the SEC staff, the issuer or a security holder of the issuer, upon request, full information regarding the number of shares sold at separate prices within the foregoing range.
- F6Reflects the weighted average sale price of the shares sold. The shares were sold in multiple trades at prices ranging from $41.92 to $43.11 per share. The reporting person will provide to the SEC staff, the issuer or a security holder of the issuer, upon request, full information regarding the number of shares sold at separate prices within the foregoing range.
- F7Amount of Shares Beneficially Owned Following Reported Transactions include 124,864 unvested shares subject to restricted stock awards and 2,031,371 shares owned outright. Shares owned outright include 1,015 shares acquired through participation in the Employee Stock Purchase Plan for the 2014 plan year.
- F8The option vested in three annual installments with 50,000 options vesting on each of February 22, 2011, February 22, 2012, and February 22, 2013.
- F9The option vested in three annual installments with 250,000 options vesting on each of May 21, 2011, May 21, 2012, and May 21, 2013.