SEC Form 4 · accession 0001171843-16-010511
AKORN INC · AKRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brian Tambi
Director
Period of report
Jun 2, 2016
Accepted (ET)
Jun 6, 2016 · 5:03 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 2, 2016 | M | 25,000 | $2.61 | A | 58,591 | D | |
| Common Stock | Jun 2, 2016 | M | 25,000 | $6.62 | A | 83,591 | D | |
| Common StockF1,F2,F3 | Jun 2, 2016 | S | 25,000 | $30.73 | D | 58,591 | 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 | $2.61 | Jun 2, 2016 | M | 25,000 | D | May 21, 2010 | — | Common Stock | 25,000 | 0 | D |
| Stock Options (Right to Buy)F5 | $6.62 | Jun 2, 2016 | M | 25,000 | D | Apr 29, 2011 | — | Common Stock | 25,000 | 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 $30.66 to $30.83 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 6,026 unvested shares subject to restricted stock awards and 52,565 shares owned outright.
- F4These 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.
- F5These 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.