SEC Form 4 · accession 0001123292-17-001649
VIVUS INC · VVUS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Herm Rosenman
Director
Period of report
Oct 27, 2017
Accepted (ET)
Oct 31, 2017 · 5:48 pm EDT
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 StockF2 | Oct 27, 2017 | M | 12,500 | — | A | 66,074 | D | |
| Common Stock | Oct 27, 2017 | D | 4,403 | $0.70 | D | 61,671 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F1 | $0.70 | Oct 27, 2017 | A | 150,000 | A | — | Oct 27, 2024 | Common Stock | 150,000 | 150,000 | D |
| Restricted Stock UnitsF2,F4 | — | Oct 27, 2017 | M | 12,500 | D | — | — | Common Stock | 12,500 | 0 | D |
Explanation of responses
- F1One twelfth (1/12th) of the total number of shares subject to the option shall vest and become exercisable on the 27th of each month following October 27, 2017, subject to such individual continuing to be a Service Provider (as defined in the 2010 Equity Incentive Plan) on the relevant vesting dates.
- F2Restricted stock units converted into VIVUS, Inc. common stock on a 1-for-1 basis.
- F3The reporting person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than by way of forfeiture to VIVUS, Inc. in order to cover estimated tax liability.
- F4The restricted stock units (RSUs) vest according to the following schedule: Commencing on November 8, 2016, 1/4th of the total RSUs originally granted shall vest on each of February 8, 2017, May 8, 2017, August 8, 2017 and November 8, 2017; provided, however, that (a) if the next annual stockholder meeting occurs prior to November 8, 2017 and the individual has remained a Service Provider (as defined in the VIVUS, Inc. 2010 Equity Incentive Plan), the vesting of the RSUs shall accelerate in full as of the date of the next annual stockholder meeting and (b) if the individual ceases to be a Service Provider (other than removal for cause) prior to any of the foregoing vesting dates, then 1/12th of the shares underlying the RSUs shall accelerate for each month elapsed from the most recent vesting date until the month in which the individual (i) ceases to be a Service Provider and (ii) has remained a Service Provider through at least the 8th day of such month.