SANDRA COTTRELL 4
4 · NPS PHARMACEUTICALS INC · Filed Feb 22, 2011
Insider Transaction Report
Form 4
SANDRA COTTRELL
VP, Reg. Affairs & Drug Safety
Transactions
- Award
Options (right to buy)
2011-02-17+16,000→ 16,000 totalExercise: $3.34Exp: 2020-02-19→ Common Stock (16,000 underlying) - Award
Options (right to buy)
2011-02-17+50,000→ 50,000 totalExercise: $8.25Exp: 2021-02-17→ Common Stock (50,000 underlying)
Footnotes (2)
- [F1]Represents options granted to the Reporting Person under the Issuer's 1998 Stock Option Plan. The options become exercisable based on the following vesting schedule: 25% on the first anniversary of the grant and 6.25% every three months thereafter.
- [F2]On February 19, 2010, the Reporting Person was granted options to purchase shares of Common Stock under the Issuer's 2005 Omnibus Incentive Plan, which are subject to both performance conditions and time-based vesting. On February 17, 2011, the Compensation Committee of the Board of Directors of the Issuer confirmed that the performance criteria for 16,000 of these options had been satisfied because the Issuer's Phase 3 pivotal study of GATTEX (teduglutide) had met the primary efficacy endpoint of reducing parenteral nutrition dependence in patients with adult short bowel syndrome. These 16,000 options will vest and become exercisable based on the following vesting schedule: 25% on each of the first four anniversaries of the date of grant.