Norton David Y 4
4 · VIVUS INC · Filed Oct 31, 2017
Insider Transaction Report
Form 4
VIVUS INCVVUS
Norton David Y
Director
Transactions
- Exercise/Conversion
Common Stock
2017-10-27+12,500→ 70,245 total - Exercise/Conversion
Restricted Stock Units
2017-10-27−12,500→ 0 total→ Common Stock (12,500 underlying) - Disposition to Issuer
Common Stock
2017-10-27$0.70/sh−3,125$2,188→ 67,120 total - Award
Non-Qualified Stock Option (right to buy)
2017-10-27+150,000→ 150,000 totalExercise: $0.70Exp: 2024-10-27→ Common Stock (150,000 underlying)
Footnotes (4)
- [F1]One twelfth (1/12th) of the total number of shares subject to the option shall vest and become exercisable on the 27th of each month following October 27, 2017, subject to such individual continuing to be a Service Provider (as defined in the 2010 Equity Incentive Plan) on the relevant vesting dates.
- [F2]Restricted stock units converted into VIVUS, Inc. common stock on a 1-for-1 basis.
- [F3]The reporting person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than by way of forfeiture to VIVUS, Inc. in order to cover estimated tax liability.
- [F4]The restricted stock units (RSUs) vest according to the following schedule: Commencing on November 8, 2016, 1/4th of the total RSUs originally granted shall vest on each of February 8, 2017, May 8, 2017, August 8, 2017 and November 8, 2017; provided, however, that (a) if the next annual stockholder meeting occurs prior to November 8, 2017 and the individual has remained a Service Provider (as defined in the VIVUS, Inc. 2010 Equity Incentive Plan), the vesting of the RSUs shall accelerate in full as of the date of the next annual stockholder meeting and (b) if the individual ceases to be a Service Provider (other than removal for cause) prior to any of the foregoing vesting dates, then 1/12th of the shares underlying the RSUs shall accelerate for each month elapsed from the most recent vesting date until the month in which the individual (i) ceases to be a Service Provider and (ii) has remained a Service Provider through at least the 8th day of such month.