SEC Form 4 · accession 0001123292-18-001041
VIVUS INC · VVUS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Y Norton
Director
Period of report
Oct 26, 2018
Accepted (ET)
Oct 29, 2018 · 7:47 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 StockF1 | holding | — | — | — | 6,712 | 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)F2,F3 | $3.53 | Oct 26, 2018 | A | 15,000 | A | — | — | Common Stock | 15,000 | 15,000 | D |
Explanation of responses
- F1On September 10, 2018, VIVUS, Inc. effected a 1-for-10 reverse stock split (the "Reverse Split"). Accordingly, 67,120 shares of common stock on a pre-Reverse Split basis were adjusted to 6,712 shares following the Reverse Split (with fractional shares rounded up to the next whole number).
- F2One twelfth (1/12th) of the total number of shares underlying the option vest and become exercisable on the 26th of each month following October 26, 2018, subject to the reporting person continuing to be a Service Provider (as defined in the Issuer's 2018 Equity Incentive Plan) on the relevant vesting dates.
- F3The option expires on the earlier of (a) October 26, 2025 and (b) the six (6) month anniversary of the date the reporting person ceases to be a Service Provider.