SEC Form 4 · accession 0001209191-17-001963
ACURA PHARMACEUTICALS, INC · ACUR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bruce F Wesson
Director
Period of report
Jan 3, 2017
Accepted (ET)
Jan 5, 2017 · 4:07 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000786947
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2,F3,F4 | Jan 3, 2017 | M | 22,026 | — | A | 58,670 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF4,F2,F5 | — | Jan 3, 2017 | M | 22,026 | D | — | — | Common Stock | 22,026 | 0 | D |
| Restricted Stock UnitsF7,F2,F6 | — | Jan 3, 2017 | A | 59,523 | A | — | — | Common Stock | 59,523 | 59,523 | D |
Explanation of responses
- F1Represents exchange of restricted stock units.
- F2Par value of $.01 must be paid by Reporting Person (or withheld from cash distributions) upon exchange of Restricted Stock Units for cash or stock
- F3Does not include Restricted Stock Units.
- F4Reflects 1 for 5 Reverse Stock Split effective August 27, 2015.
- F525% of Restricted Stock Units vested on March 31, 2016, 25% vested on June 30, 2016; 25% vested on September 30, 2016 and 25% vested on December 31, 2016. Reporting Person elected to exchange 40% (8.810) of Restricted Stock Units for cash (less par value of $.01 per share). Remaining Restricted Stock Units are being exchanged on a one for one basis for common stock, in each case upon payment of, or deduction of par value.
- F625% of Restricted Stock Units vest on the last day of each of March, June, September and December 2017, subject to immediate vesting in the event of a change of control. Reporting Person may elect to exchange up to 40% of Restricted Stock Units for cash and the remaining Restricted Stock Units will be exchanged on a one for one basis for common stock, in each case upon payment of, or deduction of par value. Distributions in respect of vested Restricted Stock Units will be made on the first business day of January 2018, or earlier upon a change of control.
- F7N/A