SEC Form 4 · accession 0001209191-16-107197

Sorrento Therapeutics, Inc. · SRNE

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owners

Patrick Soon-Shiong

10% Owner

MP 13 Ventures, LLC

10% Owner

Cambridge Equities, LP

Other

Chan Soon-Shiong Family Foundation

10% Owner

Period of report

Mar 4, 2016

Accepted (ET)

Mar 8, 2016 · 8:47 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 Stock^F1	Mar 4, 2016	S	14,700	$6.34	D	859,238	D
Common Stock^F1	Mar 7, 2016	S	85,300	$6.17	D	773,938	D
Common Stock^F2	holding	—	—		—	7,188,061	I	Through The Chan Soon-Shiong Family Foundation

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Warrant^F4,F3	$5.80	holding	—	—	—	Dec 22, 2014	Dec 22, 2017	Common Stock	1,724,138	1,724,138	I

Explanation of responses

F1These shares of common stock were acquired on the open market. The price reported in Column 4 is a weighted average sale price. Dr. Patrick Soon-Shiong undertakes to provide to Sorrento Therapeutics, Inc. (the "Company"), any securityholder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the price at which these shares were acquired.
F2Dr. Patrick Sooon-Shiong is the Chairman of The Chan Soon-Shiong Family Foundation.
F3The exercise price of the Warrant is subject to customary adjustment provisions for stock splits, stock dividends, recapitalizations and the like.
F4Dr. Patrick Soon-Shiong is the sole member of MP 13 Ventures, LLC, which is the general partner of Cambridge Equities, LP.

Remarks

This Form 5 shall not be deemed to be an admission by any reporting person hereunder that it or he is the beneficial owner, for purposes of Section 16 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), for purposes of Section 13 of the Exchange Act, or for any other purpose, of any of the securities reported herein. Without limiting the immediately preceding sentence, each reporting person hereunder expressly disclaims beneficial ownership, for purposes of Section 16 of the Exchange Act, of all securities reported herein, except to the extent of its or his pecuniary interest therein.