Amos John P. 4
4 · VIVUS INC · Filed Jan 31, 2020
Insider Transaction Report
Form 4
VIVUS INCVVUS
Amos John P.
DirectorChief Executive Officer
Transactions
- Award
Employee Stock Option (right to buy)
2020-01-29+137,500→ 137,500 totalExercise: $2.21→ Common Stock (137,500 underlying)
Footnotes (2)
- [F1](i) One-half of the total number of shares subject to the stock option will vest and become exercisable over four years, such that one-fourth of such shares will vest and become exercisable on January 29, 2021 and an additional one forty-eighth of such shares will vest and become exercisable monthly thereafter over a period of three years following the first anniversary of the date of grant, subject to the reporting person continuing to be a Service Provider (as defined in the Issuer's 2018 Equity Incentive Plan) on the relevant vesting dates; and (ii) one-half of the total number of shares subject to the stock option will vest and become exercisable upon the achievement of both: (a) satisfaction of a performance target involving the Issuer's enterprise value and (b) the passage of at least two years from the date of grant, subject to the reporting person continuing to be a Service Provider upon the achievement of the later of (a) and (b).
- [F2]The option expires on the earlier of (a) January 29, 2027 and (b) the twelve (12) month anniversary of the date the reporting person ceases to be a Service Provider (as defined in the Issuer's 2018 Equity Incentive Plan).