SEC Form 4 · accession 0001171843-16-010595
AKORN INC · AKRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bruce Kutinsky
Officer — Chief Operating Officer
Period of report
Jun 7, 2016
Accepted (ET)
Jun 9, 2016 · 7:00 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 StockF1 | Jun 7, 2016 | M | 42,000 | $5.43 | A | 58,695 | D | |
| Common StockF2 | Jun 7, 2016 | S | 42,000 | $31.43 | D | 16,695 | D | |
| Common Stock | Jun 9, 2016 | M | 208,000 | $5.43 | A | 224,695 | D | |
| Common Stock | Jun 9, 2016 | M | 125,000 | $6.62 | A | 349,695 | D | |
| Common StockF3 | Jun 9, 2016 | S | 100,000 | $30.99 | D | 249,695 | D | |
| Common StockF4 | Jun 9, 2016 | F | 86,436 | $30.80 | D | 163,259 | 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,F6 | $5.43 | Jun 7, 2016 | M | 42,000 | D | — | — | Common Stock | 42,000 | 208,000 | D |
| Stock Options (Right to Buy)F5,F6 | $5.43 | Jun 9, 2016 | M | 208,000 | D | — | — | Common Stock | 208,000 | 0 | D |
| Stock Options (Right to Buy)F7,F8 | $6.62 | Jun 9, 2016 | M | 125,000 | D | — | — | Common Stock | 125,000 | 0 | D |
Explanation of responses
- F1Amount of Shares Beneficially Owned Following Reported Transaction includes 3,722 unvested shares subject to restricted stock awards and 54,973 shares owned outright. Amount of securities owned outright includes shares acquired through the reporting person's annual participation in the Employee Stock Purchase Plan in 2014 of 1,015 shares.
- F2Reflects the weighted average sale price of the shares sold. The shares were sold in multiple trades at prices ranging from $31.25 to $31.60 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.
- F3Reflects the weighted average sale price of the shares sold. The shares were sold in multiple trades at prices ranging from $30.68 to $31.44 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.
- F4Closing stock price as of June 9, 2016 as per Nasdaq.
- F5These options vested in three installments on December 10, 2011, December 10, 2012 and December 10, 2013.
- F6These options were fully vested and scheduled to expire if not exercised on or before December 10, 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.
- F7These options vested in three installments on April 29, 2012, April 29, 2013 and April 29, 2014.
- F8These 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.