TARGACEPT INC 4
4 · TARGACEPT INC · Filed Aug 18, 2015
Insider Transaction Report
Form 4
TARGACEPT INCTRGT
BROWN JULIA R
Director
Transactions
- Award
Redeemable Convertible Note
2015-08-14Exercise: $1.31→ Common Stock (13,177 underlying)
Footnotes (3)
- [F1]Reflects a Redeemable Convertible Note of the Issuer (the "Note") to be issued as a dividend on the Issuer's common stock to holders of record of the common stock on August 14, 2015, which will be paid on August 19, 2015.
- [F2]At the option of the reporting person, at any time within 30 months of the closing of the merger of Talos Merger Sub, Inc., a wholly owned subsidiary of the Issuer, with and into Catalyst Biosciences, Inc. (the "Merger"), the Notes shall be redeemable into cash or convertible into shares of common stock of the Issuer at a conversion rate of $1.31 per share ($9.19 per share as adjusted for the planned 1-for-7 reverse stock split of the Issuer's common stock prior to the Merger).
- [F3]The Notes will mature on the 30-month anniversary of the closing of the Merger.