Broadfin Healthcare Master Fund Ltd 4
4 · BIODELIVERY SCIENCES INTERNATIONAL INC · Filed Aug 10, 2021
Insider Transaction Report
Form 4
KOTLER KEVIN
Director
Transactions
- Exercise/Conversion
Restricted Stock Units
2021-08-06−30,000→ 15,000 total(indirect: See footnote)Exercise: $0.00Exp: 2022-08-01→ Common Stock (30,000 underlying) - Exercise/Conversion
Common Stock
2021-08-10$2.93/sh+15,000$43,950→ 4,700,689 total(indirect: See footnote) - Conversion
Stock Options (right to buy)
2021-08-10$2.93/sh+15,000$43,950→ 7,500 total(indirect: See footnote)Exercise: $2.93Exp: 2028-07-31→ Common Stock (15,000 underlying) - Exercise/Conversion
Common Stock
2021-08-06+30,000→ 4,685,689 total(indirect: See footnote)
Footnotes (4)
- [F1]The shares of common stock were acquired by the Reporting Person as a result of the vesting of Restricted Stock Units ("RSUs") granted to the Reporting Person on August 1, 2018 under the Issuer's 2011 Equity Incentive Plan, as amended. The remaining RSUs vest as follows: 15,000 RSUs vest in the first open window following the Company's 2022 Annual Meeting of Stockholders.
- [F2]300,000 shares of Common Stock are held in the account of Broadfin Holdings, LLC., a private investment fund, and are deemed to be beneficially owned by Kevin Kotler, managing member of Broadfin Holdings, LLC.
- [F3]4,400,689 shares of Common Stock 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. Broadfin Healthcare Master Fund, Ltd., Broadfin Capital, LLC, and Kevin Kotler affirmatively (i) disclaim beneficial ownership of the reportable securities, (ii) states that this report shall not be deemed an admission that they are the beneficial owner of such securities for purposes of Section 16 ("Section 16") of the Securities Exchange Act of 1934, as amended (the "Act") or any other purpose, except to the extent of their pecuniary interest therein, and (iii) disclaim being a "group" for purposes of Section 16.
- [F4]The shares of common stock were acquired by the Reporting Person as a result of the exercise of stock options granted to the Reporting Person on August 1, 2018 under the Issuer's 2011 Equity Incentive Plan, as amended. The remaining options vest as follows: 7,500 options vest in the first open window following the Company's 2022 Annual Meeting of Stockholders.