SEC Form 4 · accession 0001171843-17-007705
AKORN INC · AKRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Rajat Rai
Officer — Chief Executive Officer
Period of report
Dec 13, 2017
Accepted (ET)
Dec 15, 2017 · 5:00 pm EST
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 StockF2,F3 | Dec 13, 2017 | J | 1,304,931 | $32.19 | A | 2,257,550 | D | |
| Common StockF3 | Dec 13, 2017 | J | 1,304,931 | $0.00 | D | 0 | I | By Trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On December 13, 2017, the Reporting Person withdrew 1,304,931 shares of common stock from a grantor retained annuity trust (GRAT) for which he is the sole trustee and annuitant. In exchange for the shares, the reporting person contributed to the trust assets of equal value. The withdrawal of shares from the trust resulted in a decrease in the number of shares the Reporting Person beneficially owns indirectly through the trust and a corresponding increase in the number of shares the Reporting Person beneficially owns directly. The Reporting Person believes that his withdrawal of shares from the trust constitutes a change in form of beneficial ownership of the shares, exempted by Rule 16a-13 under the Securities Exchange Act of 1934.
- F2Following the reported transaction, the amount of shares directly beneficially owned consists of 152,378 unvested RSUs and 2,105,172 shares owned outright.
- F3The amount of securities held indirectly in the GRAT prior to the transaction reported herein included 1,070,985 shares previously reported in error as directly owned by the Reporting Person.