SEC Form 4 · accession 0000891293-15-000029
CTI BIOPHARMA CORP · CTIC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bruce J. Seeley
Officer — EVP, Chief Commercial Officer
Period of report
Jul 27, 2015
Accepted (ET)
Jul 29, 2015 · 6:03 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000891293
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jul 27, 2015 | A | 300,000 | $0.00 | A | 300,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF2 | $0.00 | Jul 27, 2015 | A | 406,483 | A | — | Dec 31, 2016 | Common Stock | 406,483 | 406,483 | D |
Explanation of responses
- F1Restricted stock award will vest in three installments with one-third of the award on each of (i) July 27, 2016; (ii) July 27, 2017; and (iii) July 27, 2018, subject to the officer's continued service with the Company.
- F2This transaction represents a grant of performance-based restricted stock units pursuant to CTIC's long-term incentive program. The reporting person has been granted an award that is payable in shares of CTIC common stock upon the achievement of certain performance goals on or before December 31, 2016. Should such a goal be timely achieved, the number of shares payable will be determined by multiplying the payout percentage that has been assigned by CTIC to that goal multiplied by the number of shares of CTIC common stock issued and outstanding at the time that particular goal has been achieved. One such performance goal is the attainment by CTIC of a specified level of market capitalization. The units reported above reflect the 0.225% payout percentage that has been assigned by CTIC to this market capitalization goal for purposes of the reporting person's award multiplied by the number of shares of CTIC common stock issued and outstanding as of July 27, 2015.