SEC Form 4 · accession 0001171843-15-000934
AKORN INC · AKRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph Bonaccorsi
Officer — Secretary
Period of report
Feb 18, 2015
Accepted (ET)
Feb 19, 2015 · 4:05 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 Stock | Feb 18, 2015 | M | 7,500 | $1.46 | A | 319,189 | D | |
| Common Stock | Feb 18, 2015 | M | 92,500 | $1.46 | A | 411,689 | D | |
| Common StockF2,F4,F5 | Feb 18, 2015 | S | 40,827 | $47.33 | D | 370,862 | 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)F8,F6,F7 | $1.46 | Feb 18, 2015 | M | 7,500 | D | — | Feb 22, 2015 | Common Stock | 7,500 | 92,500 | D |
| Stock Option (right to buy)F8,F6,F7 | $1.46 | Feb 18, 2015 | M | 92,500 | D | — | Feb 22, 2015 | Common Stock | 92,500 | 0 | D |
Explanation of responses
- F1This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 21, 2014.
- F2Upon 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.
- F3All proceeds from the sale were used to cover exercise price and taxes due upon exercise of options.
- F4Reflects the weighted average sale price of the shares sold. The shares were sold in multiple trades at prices ranging from $46.80 to $48.49 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.
- F5Amount of Shares Beneficially Owned Following Reported Transaction includes 104,414 unvested shares subject to a restricted stock awards and 266,448 shares owned outright. Shares owned outright include 1,015 shares acquired through participation in the Employee Stock Purchase Plan for the 2014 plan year.
- F6The option vested in three annual installments with 33,333 options vesting on each of February 22, 2011 and February 22, 2012, and 33,334 options vesting on February 22, 2013.
- F7Exercise of stock options that were approaching their 5-year expiration date.
- F8There was no consideration given in exchange for the security.