SEC Form 4 · accession 0001209191-16-114600
NEUROCRINE BIOSCIENCES INC · NBIX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen A Sherwin
Director
Period of report
Apr 14, 2016
Accepted (ET)
Apr 18, 2016 · 6:02 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000914475
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Apr 14, 2016 | M | 15,000 | $3.07 | A | 31,030 | D | |
| Common StockF1 | Apr 14, 2016 | F | 982 | $46.86 | D | 30,048 | 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 | $3.07 | Apr 14, 2016 | M | 15,000 | D | Jun 29, 2009 | May 29, 2016 | Common Stock | 15,000 | 0 | D |
Explanation of responses
- F1The share issuance reported on Table I reflects shares issued upon the exercise of options granted on May 29, 2009, which, if unexercised, would have expired on May 29, 2016. The option exercises are reported on Table II. These option exercises were pursuant to a net issuance arrangement effected under the issuer's Equity Incentive Plan. The number of shares issued pursuant to the net issuance arrangement was calculated as follows: the option exercise price ($3.07) was subtracted from the April 14, 2016 market close price ($46.86), and this net amount ($43.79) was then multiplied by the number of options (15,000), with the resulting amount then divided by the market close price to result in a net issuance of 14,018 shares to the optionee. The 982 shares underlying the remaining portion of the options are not available for reissuance, and no shares were sold into the market as part of the exercise in connection with a net issuance program.