RULEWSKI NIGEL J 4
4 · ARQULE INC · Filed Jul 24, 2008
Insider Transaction Report
Form 4
ARQULE INCARQL
RULEWSKI NIGEL J
Chief Medical Officer
Transactions
- Award
Employee Stock Options
2008-07-22+150,000→ 150,000 totalExercise: $5.16Exp: 2010-02-26→ Common Stock (150,000 underlying) - Disposition to Issuer
Employee Stock Options
2008-07-22−12,500→ 0 totalExercise: $6.16Exp: 2017-01-16→ Common Stock (12,500 underlying) - Disposition to Issuer
Employee Stock Options
2008-07-22−150,000→ 0 totalExercise: $5.16Exp: 2016-08-01→ Common Stock (150,000 underlying) - Award
Employee Stock Options
2008-07-22+12,500→ 12,500 totalExercise: $6.16Exp: 2010-02-26→ Common Stock (12,500 underlying)
Footnotes (3)
- [F1]Amendment of outstanding option resulting in deemed cancellation of option and grant of replacement option. The option was originally granted on August 1, 2006 and provides for vesting in four equal installments commencing on August 1, 2007. Pursuant to the Separation Agreement and the General Release, dated July 22, 2008, by and between the Issuer and the Reporting Person ("Separation Agreement"), options for 50,000 shares which were unvested became vested and exercisable on the Reporting Person's termination date. The amendment will extend the post termination expiration date to February 26, 2010.
- [F2]Employee stock option grant.
- [F3]Amendment of outstanding option resulting in deemed cancellation of option and grant of replacement option. The option was originally granted on January 16, 2007 and provides for vesting in four equal annual installments commencing on January 17, 2008. The Separation Agreement extends the post termination expiration date to February 26, 2010 for options that were exercisable and vested on the date of termination. As a result of the Reporting Person leaving the employ of the Company, the option grant lapsed as to the remaining 37,500 unvested options.