SEC Form 4 · accession 0001354488-16-008271
PALATIN TECHNOLOGIES INC · PTN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen T Wills
Officer — Executive VP and CFO/COO
Period of report
Sep 7, 2016
Accepted (ET)
Sep 8, 2016 · 4:15 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000911216
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Sep 7, 2016 | A | 268,000 | $0.00 | A | 1,842,041 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to acquire)F2 | $0.675 | Sep 7, 2016 | A | 396,000 | A | Sep 7, 2017 | Sep 7, 2026 | Common | 396,000 | 396,000 | D |
Explanation of responses
- F1Restricted share units granted under the 2011 Stock Incentive Plan, each of which represents the right to receive, without further payment, one share of common stock. The restricted share units vest as to 168,000 shares on September 7, 2017, and as to the remaining shares on September 7, 2018. Vested shares, subject to the terms of the applicable restricted share unit agreement, will be delivered following the reporting person ceasing to serve as an employee of Palatin Technologies, Inc.
- F2Options to purchase 182,250 shares vest on September 7, 2017, and the remaining options vest at the rate of 33.3% per year, starting on September 7, 2018.