SEC Form 4 · accession 0001209191-15-078371
INSITE VISION INC · INSV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Louis Drapeau
Officer — Vice President and CFO
Period of report
Nov 2, 2015
Accepted (ET)
Nov 4, 2015 · 3:54 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000802724
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F2,F1 | $1.20 | Nov 2, 2015 | D | 50,000 | D | Oct 15, 2008 | Oct 15, 2017 | Common Stock | 50,000 | 0 | D |
| Stock Option (right to buy)F2,F1 | $0.36 | Nov 2, 2015 | D | 300,000 | D | Oct 28, 2009 | Oct 28, 2018 | Common Stock | 300,000 | 0 | D |
| Stock Option (right to buy)F3,F1 | $0.20 | Nov 2, 2015 | D | 400,000 | D | Feb 17, 2010 | Feb 17, 2019 | Common Stock | 400,000 | 0 | D |
| Stock Option (right to buy)F2,F1 | $0.42 | Nov 2, 2015 | D | 400,000 | D | Apr 1, 2011 | Apr 1, 2020 | Common Stock | 400,000 | 0 | D |
| Stock Option (right to buy)F2,F1 | $0.36 | Nov 2, 2015 | D | 300,000 | D | Jan 21, 2012 | Jan 21, 2021 | Common Stock | 300,000 | 0 | D |
| Stock Option (right to buy)F2,F1 | $0.50 | Nov 2, 2015 | D | 200,000 | D | Jan 27, 2013 | Jan 27, 2022 | Common Stock | 200,000 | 0 | D |
| Stock Option (right to buy)F3,F1 | $0.32 | Nov 2, 2015 | D | 300,000 | D | Jan 24, 2014 | Jan 24, 2023 | Common Stock | 300,000 | 0 | D |
| Stock Option (right to buy)F3,F1 | $0.29 | Nov 2, 2015 | D | 300,000 | D | Jan 7, 2015 | Jan 7, 2024 | Common Stock | 300,000 | 0 | D |
| Stock Option (right to buy)F3,F1 | $0.21 | Nov 2, 2015 | D | 300,000 | D | Jan 28, 2016 | Jan 28, 2025 | Common Stock | 300,000 | 0 | D |
| Warrant (right to buy)F4 | $0.75 | Nov 2, 2015 | D | 80,000 | D | Jul 18, 2011 | Jul 18, 2016 | Common Stock | 80,000 | 0 | D |
Explanation of responses
- F1The option is scheduled to vest as to 25% of the shares covered by the option on the first anniversary of the grant date and as to the remaining 75% of the shares on a daily basis over the three-year period thereafter.
- F2In accordance with the terms of the Agreement and Plan of Merger, dated September 15, 2015, as amended and restated, by and among Thea Acquisition Corp ("Purchaser"), Ranbaxy, Inc. and InSite Vision Incorporated ("Issuer") pursuant to which Purchaser was merged with and into Issuer (the "Merger"), this stock option was cancelled at the effective time of the Merger without consideration because the exercise price of the stock option equaled or exceeded $0.35 per share.
- F3This option was cancelled in connection with the Merger in exchange for a cash payment per share equal to the difference between $0.35 and the exercise price of the option.
- F4This warrant was cancelled in connection with the Merger in exchange for a cash payment of $0.04 per share underlying the warrant equal to the Black Scholes Value of the warrant on the date of the Merger.