SEC Form 4 · accession 0001171843-16-010510
AKORN INC · AKRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph Bonaccorsi
Officer — Sr VP Gen Counsel & Secretary
Period of report
Jun 3, 2016
Accepted (ET)
Jun 6, 2016 · 5:02 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 | Jun 3, 2016 | M | 100,000 | $2.61 | A | 470,862 | D | |
| Common Stock | Jun 3, 2016 | M | 75,000 | $6.62 | A | 545,862 | D | |
| Common StockF1,F2,F3 | Jun 3, 2016 | S | 90,250 | $31.23 | D | 455,612 | 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)F4,F5 | $2.61 | Jun 3, 2016 | M | 100,000 | D | — | — | Common Stock | 100,000 | 0 | D |
| Stock Options (Right to Buy)F6,F7 | $6.62 | Jun 3, 2016 | M | 75,000 | D | — | — | Common Stock | 75,000 | 0 | D |
Explanation of responses
- F1Proceeds from the sale were used to pay exercise price and taxes due upon exercise of options.
- F2Reflects the weighted average sale price of the shares sold. The shares were sold in multiple trades at prices ranging from $30.97 to $31.48 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.
- F3Amount of Shares Beneficially Owned Following Reported Transaction includes 76,997 unvested shares subject to restricted stock awards and 378,615 shares owned outright.
- F4These options vested in three installments on May 21, 2011, May 21, 2012 and May 21, 2013.
- F5These options were fully vested and scheduled to expire if not exercised on or before May 21, 2015. However, due to legal restrictions under the securities laws, the options could not be exercised until June 2, 2016 and thus the expiration date was tolled until July 2, 2016.
- F6These options vested in three installments on April 29, 2012, April 29, 2013 and April 29, 2014.
- F7These options were fully vested and scheduled to expire if not exercised on or before April 29, 2016. However, due to legal restrictions under the securities laws, the options could not be exercised until June 2, 2016 and thus the expiration date was tolled until July 2, 2016.