SEC Form 4 · accession 0001171843-15-002085
AKORN INC · AKRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark M Silverberg
Officer — Exec VP, Ops Global QA&TechSrv
Period of report
Apr 21, 2015
Accepted (ET)
Apr 21, 2015 · 7:18 pm EDT
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 | Apr 21, 2015 | M | 60,000 | $2.61 | A | 285,522 | D | |
| Common StockF3 | Apr 21, 2015 | S | 29,000 | $55.00 | D | 256,522 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to Buy)F5,F4 | $2.61 | Apr 21, 2015 | M | 60,000 | D | — | May 21, 2015 | Common Stock | 60,000 | 0 | D |
Explanation of responses
- F1This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 3, 2015. Upon execution of the transaction 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.
- F2Proceeds from the sale were used to pay exercise price and taxes due upon exercise of options.
- F3Amount of Shares Beneficially Owned Following Reported Transaction includes 22,535 unvested shares subject to restricted stock awards and 233,987 shares owned outright.
- F4The option vested in three annual installments with 20,000 options vesting on May 21, 2011, May 21, 2012 and May 21, 2013.
- F5There was no consideration given in exchange for the security.