PDL BIOPHARMA, INC. 4
4 · PDL BIOPHARMA, INC. · Filed May 29, 2015
Insider Transaction Report
Form 4
SANDMAN PAUL W
Director
Transactions
- Award
Common stock
2015-05-28$6.80/sh+22,059$150,001→ 76,700 total
Footnotes (1)
- [F1]The grant will cliff-vest on the first anniversary of the date of grant so long as the grant recipient continues to serve on the Board of Directors of PDL BioPharma, Inc. During the one-year vesting period, the grant recipient will have the right to vote the shares and receive any dividends and other distributions paid, except that dividends and other distributions will be accumulated and will vest and be paid, with interest, on the earlier of the same vesting conditions as the original award or March 15th of the year following the payment of such dividend or distribution to all stockholders.