SEC Form 4 · accession 0001387131-16-004984
Adamis Pharmaceuticals Corp · ADMP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Eddie Wabern Glover
Officer — CEO of U.S. Compounding, Inc.
Period of report
Apr 13, 2016
Accepted (ET)
Apr 14, 2016 · 2:57 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000887247
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Apr 13, 2016 | A | 866,666 | $0.00 | A | 866,666 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1200,000 of these shares of common stock will be held in escrow until April 11, 2019 to satisfy the indemnification obligations of Mr. Glover under the Agreement and Plan of Merger, dated as of March 28, 2016 by and among Adamis Pharmaceuticals Corporation ("Adamis"), U.S. Compounding, Inc. ("USC"), and a wholly owned subsidiary of Adamis. In addition, 500,000 of these shares of common stock are subject to vesting under a milestone agreement entered into by Mr. Glover. Under the milestone agreement, one-third of these shares vest and are released to Mr. Glover annually over a period of three years from April 11, 2016 provided that Mr. Glover continues to be employed by USC or Adamis (with certain exceptions) as of the applicable vesting date.