SEC Form 4 · accession 0001615774-16-007975
Emmaus Life Sciences, Inc. · EMMA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robin L Smith
Director
Period of report
Nov 1, 2016
Accepted (ET)
Nov 2, 2016 · 8:58 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000822370
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Nov 1, 2016 | A | 40,000 | $0.00 | A | 69,526 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy) and tax-offset rightF2,F1,F3 | $6.00 | Nov 1, 2016 | A | 16,000 | A | Nov 1, 2016 | Sep 22, 2026 | Common Stock | 16,000 | 16,000 | D |
Explanation of responses
- F1The award was recommended by the compensation committee and approved by the board of directors of MYnd Analytics, Inc. (the "Registrant") on September 22, 2016, subject to stockholder approval of the Amended and Restated 2012 Omnibus Incentive Compensation Plan (the "Plan") under which it was granted. The Registrant's stockholders approved the Plan on November 1, 2016.
- F2The tax-offset right accompanying this grant entitles the reporting person to receive a cash payment from the Registrant equal to the tax withholding incurred in connection with the award, including tax withholding incurred on the tax-offset payment. The Registrant has reported having accrued in aggregate $250,000 for the estimated tax withholding liability.
- F3On September 22, 2016, the reporting person was granted an option to purchase 40,000 shares of common stock. The option vests in five equal installments based on the reporting person's satisfaction of certain performance criteria. The performance criteria for the first and second installments were met, resulting in the vesting of the option as to 16,000 shares.