SEC Form 4 · accession 0001493152-18-013594
VBI Vaccines Inc/BC · VBIV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Christopher McNulty
Officer — CFO and Head of BD
Period of report
Sep 19, 2018
Accepted (ET)
Sep 21, 2018 · 5:00 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000764195
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option (Right to Buy Common Shares)F1,F2 | $1.83 | Sep 19, 2018 | A | 250,000 | A | — | Sep 19, 2028 | Common Shares | 250,000 | 250,000 | D |
Explanation of responses
- F1The reporting person is a participant in the Issuer's Incentive Plan (the "Plan"). The board of directors of the Issuer approved the option grant on September 19, 2018 (the "Grant Date"). The options were granted pursuant to that certain option agreement entered into by and between the Issuer and the reporting person, dated September 19, 2018 (the "Option Agreement"). The options vest and become exercisable as follows: (i) one-fourth (1/4) of the option shall vest on August 14, 2019 and (ii) the remainder vests in 48 equal monthly installments beginning on the first day of the month following August 14, 2019, in each case, provided that the reporting person is providing services to the Issuer on the applicable vesting date and subject to the terms and conditions of the Plan.
- F2The options expire 10 years from the Grant Date unless terminated sooner in accordance with the Plan or the Option Agreement.