SEC Form 4 · accession 0001104659-15-004780
VIVUS INC · VVUS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Svai S Sanford
Officer — CFO & Chief Accounting Officer
Period of report
Jan 23, 2015
Accepted (ET)
Jan 27, 2015 · 4:40 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000881524
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Jan 23, 2015 | A | 25,300 | $0.00 | A | 66,031 | 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)F4 | $2.74 | Jan 23, 2015 | A | 240,300 | A | — | Jan 23, 2022 | Common Stock | 240,300 | 240,300 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of VIVUS, Inc. common stock.
- F2The restricted stock unit award (the "RSU Award") will vest pursuant to the following four (4) year schedule commencing on January 1, 2015: one fourth (1/4th) of the RSU Award will vest on January 1, 2016, and an additional one sixteenth (1/16th) of the RSU Award will vest at the end of each calendar quarter thereafter (i.e., March 31st, June 30th, September 30th and December 31st), subject to such individual continuing to be a Service Provider (as defined in the Issuer's 2010 Equity Incentive Plan) on the relevant vesting dates.
- F3Includes 2,882 shares acquired under the VIVUS, Inc. Employee Stock Purchase Plan on May 14, 2014.
- F4Twenty-five percent (25%) of the total number of shares underlying the options will vest on January 23, 2016, and one forty-eighth (1/48th) of the total number of shares underlying the options will vest on the 23rd of each month thereafter, subject to such individual continuing to be a Service Provider (as defined in the Issuer's 2010 Equity Incentive Plan) on the relevant vesting dates.