Broadfin Healthcare Master Fund Ltd 4
4 · BIODELIVERY SCIENCES INTERNATIONAL INC · Filed Mar 19, 2020
Insider Transaction Report
Form 4
Transactions
- Exercise/Conversion
Common Stock
2020-03-17$2.93/sh−10,623$31,125→ 4,310,689 total(indirect: See footnote) - Conversion
Options
2020-03-17−10,623→ 37,500 total(indirect: See footnote)Exercise: $2.93From: 2020-03-17→ Common Stock (10,623 underlying)
Footnotes (2)
- [F1]The securities are held in the account of Broadfin Healthcare Master Fund, Ltd., a private investment fund managed by Broadfin Capital, LLC and may be deemed to be beneficially owned by Kevin Kotler, managing member of Broadfin Capital, LLC. Each of Broadfin Capital, LLC, Broadfin Healthcare Master Fund, Ltd. and Kevin Kotler disclaim beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and affirmatively disclaim being a "group" for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.
- [F2]On August 1, 2018, the Issuer awarded to Mr. Kotler options ("Options") to purchase 48,123 Shares at an exercise price of $2.93 per share as compensation for his service on the Issuer's board of directors. Options have vested as follows: (i) 1,562 Options vested in the first open window following the filing of the Issuer's quarterly 10-Q for June 30, 2018; (ii) 9,061 Options vested in the first open window following the Issuer's 2019 Annual Meeting of Stockholders; and (iii) 15,000 Options vest in the first open window following the Issuer's 2020 Annual Meeting of Stockholders. The remaining Options vest as follows: (i) 15,000 Options vest in the first open window following the Issuer's 2021 Annual Meeting of Stockholders; and (ii) 7,500 Options vest in the first open window following the Issuer's 2022 Annual Meeting of Stockholders. The Options expire on August 1, 2028.