4//SEC Filing
BERK BERNARD 4
Accession 0000930413-05-006475
CIK 0001053369other
Filed
Sep 6, 8:00 PM ET
Accepted
Sep 7, 2:00 PM ET
Size
11.4 KB
Accession
0000930413-05-006475
Insider Transaction Report
Form 4
BERK BERNARD
DirectorChief Exec. Officer & Chairman
Transactions
- Award
Option
2005-09-02$2.69/sh+400,000$1,076,000→ 1,045,000 totalExercise: $2.69Exp: 2015-09-02→ Common Stock (400,000 underlying) - Other
Option
2003-06-23$2.15/sh→ 1,045,000 totalExercise: $2.15From: 2005-09-02Exp: 2013-06-22→ Common Stock (225,000 underlying) - Award
Option
2005-09-02$2.69/sh+200,000$538,000→ 1,045,000 totalExercise: $2.69Exp: 2015-09-02→ Common Stock (90,000 underlying)
Footnotes (4)
- [F1]100,000 of the options shall vest on September 2, 2006 and 100,000 of the options shall vest on September 2, 2007.
- [F2]The options vest as follows: (i) 50,000 options upon the closing of each product license or product sale transaction (on a product by product basis and only once for each product) in which the Registrant receives an aggregate of at least $5,000,000 in net cash proceeds (including royalties and signing, license and milestone payments) in connection with such product transaction; (ii) 10,000 options upon the filing by the Registrant (in the Registrant's name) with the United States Food and Drug Administration (the "FDA") of either an Abbreviated New Drug Application ("ANDA") or New Drug Application (including 505(b)(2) applications) ("NDA") for a product not covered by a previous FDA application; and (iii) 40,000 options s upon the approval by the FDA of any ANDA or NDA of the Registrant (filed in the Registrant's name) for a product not previously approved by the FDA; provided however, that on September 2, 2009 all unvested options shall terminate.
- [F3]The Reporting Person was granted 300,000 options of the Registrant on July 23, 2003 which would vest upon a Strategic Transaction. The Registrant determined that a Strategic Transaction has occurred as of September 2, 2005. Furthermore, in connection with entering into an amended and restated employment agreement, the Reporting Person waived rights to 75,000 options.
- [F4]In addition to the transactions described above, this amount also includes options to purchase 300,000 shares of common stock but does not include 167,300 shares of Common Stock beneficially owned by the Reporting Person.
Documents
Issuer
ELITE PHARMACEUTICALS INC /DE/
CIK 0001053369
Entity typeother
Related Parties
1- filerCIK 0001280942
Filing Metadata
- Form type
- 4
- Filed
- Sep 6, 8:00 PM ET
- Accepted
- Sep 7, 2:00 PM ET
- Size
- 11.4 KB