SEC Form 4 · accession 0000850261-18-000011
Sorrento Therapeutics, Inc. · SRNE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dean Ferrigno
Officer — Chief Accounting Officer
Period of report
Feb 28, 2018
Accepted (ET)
Feb 28, 2018 · 7:05 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000850261
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 28, 2018 | J | 118 | — | A | 245 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Pursuant to a stock purchase agreement by and among the Issuer, Scilex Pharmaceuticals Inc. ("Scilex"), the stockholders of Scilex party thereto and SPI Shareholders Representative, LLC, as representative of the Scilex Stockholders (the "Stock Purchase Agreement"), the Reporting Person sold 1,302 shares of common stock of Scilex to the Issuer and, upon the achievement of a milestone on February 28, 2018, the Issuer issued the Reporting Person 118 shares of the common stock of the Issuer. The Stock Purchase Agreement, which was entered into on November 8, 2016, placed a value on the Issuer's common stock of $9.95 per share. Contingent upon the achievement of such milestone, the Reporting Person's right to receive such shares became fixed and irrevocable on November 8, 2016.