Invuity, Inc. 4
4 · Invuity, Inc. · Filed Jan 19, 2017
Insider Transaction Report
Form 4
Invuity, Inc.IVTY
Annen Steven
See Remarks
Transactions
- Award
Employee Stock Option (right to buy)
2017-01-17+28,600→ 28,600 totalExercise: $6.50Exp: 2027-01-17→ Common Stock (28,600 underlying) - Award
Restricted Stock Units
2017-01-17+14,300→ 14,300 totalExp: 2021-01-01→ Common Stock (14,300 underlying)
Footnotes (3)
- [F1]The option vests and becomes exercisable over the course of a four-year period after January 1, 2017 (the "Vesting Period") only if (a) the average closing price per share of the Issuer's shares on the NASDAQ Global Market over a 60-trading day period meets or exceeds $12.00 per share or (b) the Issuer is sold and the acquisition price per share of the Issuer's shares meets or exceeds $12.00 per share (either (a) or (b), the "Price Hurdle") within a three-year period after the Transaction Date (the "Performance Period"). Upon achievement of the Price Hurdle during the Performance Period, a pro rata portion of the options shall vest immediately, with the remainder to vest in equal monthly installments for the remainder of the Vesting Period, subject to the Reporting Person continuing as a service provider through each vesting date. If the Price Hurdle is not achieved during the Performance Period, the option shall be cancelled.
- [F2]Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.
- [F3]The restricted stock units vest as to one-fourth of the shares on January 1, 2018 and on each one year anniversary thereafter, subject to the Reporting Person continuing as a service provider through each vesting date.