SPINELLI SILVANO 4
4 · CELL THERAPEUTICS INC · Filed Mar 2, 2005
Insider Transaction Report
Form 4
SPINELLI SILVANO
DirectorEVP, Development
Transactions
- Award
Non-Qualified Stock Option (right to buy)
2005-02-28+125,000→ 125,000 totalExercise: $10.05Exp: 2015-02-28→ Common Stock (125,000 underlying)
Footnotes (1)
- [F1]The reporting person was granted options for shares of common stock, 50% of which shall vest 45 days following the achievement of a specific performance event determined by the Company's board of directors (the "Initial Vesting Date"), provided that the reporting person remains employed by the Company on the Initial Vesting Date. The remaining 50% shall vest on the date that the Company receives approval for a new drug application for Xyotax from the Food and Drug Administration (the "Second Vesting Date"); provided that the reporting person is still employed by the Company on the Second Vesting Date and that the Second Vesting Date occurs prior to January 1, 2007. If the specified performance event, and therefore the Initial Vesting Date, does not occur, then 100% of the options shall become vested on the Second Vesting Date; provided that the reporting person is still employed by the Company on the Second Vesting Date and that the Second Vesting Date occurs prior to January 1, 2007.