SEC Form 4 · accession 0001171843-16-010997
AKORN INC · AKRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Period of report
Jul 1, 2016
Accepted (ET)
Jul 6, 2016 · 9:01 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,F2 | Jul 1, 2016 | A | 4,661 | $0.00 | A | 505,391 | D | |
| Common StockF3 | holding | — | — | — | 4,907,524 | I | By Trust | |
| Common StockF4 | holding | — | — | — | 15,050,000 | I | Indirect Managing General Partner | |
| Common StockF5 | holding | — | — | — | 2,970,644 | I | Indirect Managing General Partner | |
| Common StockF6 | holding | — | — | — | 3,590,445 | I | Indirect Managing General Partner | |
| Common StockF7 | holding | — | — | — | 4,427,462 | I | By Trusts |
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)F8 | $29.50 | Jul 1, 2016 | A | 11,602 | A | — | Jul 1, 2023 | Common Stock | 11,602 | 11,602 | D |
Explanation of responses
- F1The Restricted Stock Units vest in four equal installments with one installment vesting immediately on the grant date of July 1, 2016 and the remaining three installments vesting on July 1, 2017, July 1, 2018 and July 1, 2019. Following the reported transaction the amount of shares beneficially owned includes 3,495 unvested shares subject to restricted stock awards and 501,896 shares owned outright.
- F2These securities are beneficially owned solely by Dr. John N. Kapoor, who is a member of a "group" with Akorn Holdings, L.P. for purposes of Section 13(d) of the Exchange Act.
- F3Shares held by the John N. Kapoor Trust dated September 20, 1989, of which Dr. Kapoor is sole trustee and beneficiary.
- F4Shares held by Akorn Holdings, LP, a Delaware limited partnership, of which Dr. Kapoor is the indirect managing general partner. Dr. Kapoor disclaims beneficial ownership of such shares except to the extent of his actual pecuniary interest therein.
- F5Shares held by EJ Financial / Akorn Management L.P., a Delaware limited partnership, of which Dr. Kapoor is the indirect managing general partner. Dr. Kapoor disclaims beneficial ownership of such shares except to the extent of his actual pecuniary interest therein.
- F6Shares held by EJ Funds LP, a Delaware limited partnership, of which Dr. Kapoor is the indirect managing general partner. Dr. Kapoor disclaims beneficial ownership of such shares except to the extent of his actual pecuniary interest therein.
- F7Shares held through several trusts, the trustee of which is employed by a company controlled by Dr. Kapoor and the beneficiaries of which include Dr. Kapoor's children and various other family members. Dr. Kapoor disclaims beneficial ownership of such shares except to the extent of his actual pecuniary interest therein.
- F8The Stock Options vest in four equal installments with one installment vesting immediately on the grant date of July 1, 2016 and the remaining three installments vesting on July 1, 2017, July 1, 2018 and July 1, 2019.