SEC Form 4 · accession 0001123292-17-000302
VIVUS INC · VVUS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Seth H. Z. Fischer
Officer — Chief Executive Officer · Director
Period of report
Jan 27, 2017
Accepted (ET)
Jan 31, 2017 · 6:45 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 | Jan 27, 2017 | A | 150,000 | $0.00 | A | 636,080 | 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)F3 | $1.12 | Jan 27, 2017 | A | 1,000,000 | A | — | Jan 27, 2024 | Common Stock | 1,000,000 | 1,000,000 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of VIVUS, Inc. common stock.
- F2The restricted stock units vest according to the following schedule: twenty-five percent (25%) of the total restricted stock units vest on January 27, 2018 with an additional six and one quarter percent (6.25%) of the total restricted stock units vesting quarterly thereafter (i.e., April 27th, July 27th, October 27th, and January 27th) until all of the restricted stock units are vested, 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.
- F3Twenty-five percent (25%) of the total number of shares underlying the option will vest and become exercisable on January 27, 2018, and one forty-eighth (1/48th) of the total number of shares underlying the option will vest on the 27th of each month thereafter, subject to the reporting person continuing to be a Service Provider (as defined in the Issuer's 2010 Equity Incentive Plan) on the relevant vesting dates.