GENVEC INC 4
4 · GENVEC INC · Filed Jun 20, 2017
Insider Transaction Report
Form 4
GENVEC INCGNVC
Butman Bryan T
Senior Vice President
Transactions
- Exercise/Conversion
Common Stock
2017-06-16$5.60/sh+6,000$33,600→ 14,138 total - Disposition to Issuer
Common Stock
2017-06-16−9,428→ 0 total - Tax Payment
Common Stock
2016-06-16$7.19/sh−4,710$33,865→ 9,428 total - Exercise/Conversion
Stock Options (right to buy)
2017-06-16$5.60/sh−6,000$33,600→ 0 totalExercise: $5.60From: 2017-06-16Exp: 2017-06-16→ Common Stock (6,000 underlying)
Footnotes (5)
- [F1]Withholding of Common Stock to pay exercise price and to satisfy tax withholding obligations.
- [F2]The shares of Common Stock were cancelled pursuant to the Agreement and Plan of Merger, dated January 24, 2017, among the Issuer, Intrexon Corporation ("Intrexon") and Intrexon GV Holding, Inc. (the "Merger Agreement") in exchange for (i) 2,800 shares of Intrexon common stock having a market value of $63,896 as of the close of trading on the date immediately prior to the effective date of the merger, and cash in lieu of fractional shares of Intrexon common stock, plus (ii) one contingent payment right (the "Merger Consideration").
- [F3][footnote 2 continued] Each contingent payment right entitles the holder thereof to an amount equal to half of certain payments actually received by the registrant or its successor or any of their affiliates from or on behalf of Novartis Institutes for BioMedical Research, Inc. ("Novartis") under the Research Collaboration and License Agreement, dated January 13, 2010, as amended, between the registrant and Novartis, on account of milestone payments or royalties due in relation to the period ending June 16, 2019, divided by the number of shares of the regisrant's common stock having rights to the Merger Consideration, subject to any withholding of taxes required by applicable law.
- [F4]Disposed of pursuant to the Merger Agreement in exchange for the Merger Consideration.
- [F5]Pursuant to the Merger Agreement, the vesting date of unvested stock options accelerated to vest and become exercisable as of the closing of the merger.