BAXANO SURGICAL, INC. 4
4 · BAXANO SURGICAL, INC. · Filed Jun 4, 2013
Insider Transaction Report
Form 4
HIRSCH RUSSELL C
Director10% Owner
Transactions
- Other
Common Stock
2013-05-31+3,330,810→ 5,340,616 total(indirect: Prospect Venture Partners III, L.P.) - Purchase
Common Stock
2013-05-31$2.28/sh+2,009,806$4,582,358→ 2,009,806 total(indirect: Prospect Venture Partners III, L.P.) - Award
Stock Option (right to buy)
2013-05-31+30,000→ 30,000 totalExercise: $2.06Exp: 2023-05-30→ Common Stock (30,000 underlying)
Footnotes (3)
- [F1]The reportable securities are owned directly by Prospect Venture Partners III, L.P. Dr. Hirsch is a Managing Director of Prospect Venture Partners III, L.P., and has shared voting and dispositive power with respect to the shares held by Prospect Venture Partners III, L.P. Dr. Hirsch disclaims beneficial ownership of these shares except to the extent of his proportionate pecuniary interest therein.
- [F2]Received in exchange for outstanding convertible promissory notes and shares of Series C Preferred Stock of Baxano, Inc. pursuant to the Agreement and Plan of Merger, dated March 3, 2013, by and among TranS1 Inc. (now Baxano Surgical, Inc.), RacerX Acquisition Corp., Baxano, Inc., and Sumeet Jain and David Schulte as Securityholder Representatives, as amended by the First Amendment to Agreement and Plan of Merger, dated April 10, 2013, by and among the parties.
- [F3]25% of the stock option shall vest on May 31, 2014 and the remaining 75% of the stock option shall vest thereafter in 36 equal monthly installments.