SEC Form 4 · accession 0001493152-19-001340
VBI Vaccines Inc/BC · VBIV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeff Baxter
Officer — CEO, President · Director
Period of report
Jan 31, 2019
Accepted (ET)
Feb 4, 2019 · 5:17 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000764195
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Shares, no par value per share | Jan 31, 2019 | A | 50,000 | $0.00 | A | 283,005 | D |
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 | $1.67 | Jan 31, 2019 | A | 450,000 | A | — | Jan 31, 2029 | Common Shares | 450,000 | 450,000 | 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 January 31, 2019 (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 January 31, 2019 (the "Option Agreement"). The options vest and become exercisable in 36 equal monthly installments beginning on the first day of the month following the Grant Date, subject to the reporting person's employment on the relevant vesting date.
- F2The options expire 10 years from the Grant Date unless terminated sooner in accordance with the Plan or the Option Agreement.