SEC Form 4 · accession 0001171843-17-004789
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
Aug 3, 2017
Accepted (ET)
Aug 7, 2017 · 6:00 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 Stock | Aug 3, 2017 | M | 100,000 | $13.35 | A | 317,480 | D | |
| Common StockF1,F2 | Aug 3, 2017 | S | 40,000 | $33.46 | D | 277,480 | D | |
| Common StockF3,F4,F5 | Aug 3, 2017 | F | 25,541 | $33.45 | D | 251,939 | 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)F6 | $13.35 | Aug 3, 2017 | M | 100,000 | D | — | Aug 3, 2017 | Common Stock | 100,000 | 0 | D |
Explanation of responses
- F1Proceeds from the sale were used to pay the exercise price for this option exercise.
- F2Represents the weighted average sale price of the shares sold. The shares were sold at prices ranging from $33.41 to $33.51. Upon request, the reporting person will provide to the SEC staff full information regarding the number of shares sold at separate prices within the foregoing range.
- F3The shares were withheld for the payment of the taxes due upon exercise of the options.
- F4Equals the closing market price of Akorn common stock on August 3, 2017.
- F5Following the reported transaction, the amount of shares beneficially owned consists of 55,203 unvested RSUs and 196,736 shares owned outright.
- F6The stock options vested in four equal installments of 25,000 each on August 3, 2013, August 3, 2014, August 3, 2015 and August 3, 2016.