Sevion Therapeutics, Inc. 4
4 · Sevion Therapeutics, Inc. · Filed Nov 20, 2014
Insider Transaction Report
Form 4
Browne Leslie J
President and CEO
Transactions
- Award
Common Stock Option (right to buy)
2014-11-18+42,210→ 82,065 totalExercise: $0.83From: 2015-11-18Exp: 2024-11-18→ Common Stock (42,210 underlying)
Footnotes (2)
- [F1]The options vest in a two-step process. First, options vest based on the attainment of pre-established corporate and individual performance goals. Second, the options that are earned based on the attainment of performance goals will vest as follows: 25% on the first anniversary of the date of grant with the balance vesting at a rate of 1/36 per month thereafter, subject to the executive officer's continued service through each applicable vesting date, provided, however, that pursuant to Dr. Browne's Retention Agreement, such option will fully vest if Dr. Browne's employment is terminated by the Company without cause. No options will vest if the Company's compensation committee has determined that the performance metrics have not been met.
- [F2]Such option grant was approved by the Company's compensation committee in September 2014 and, consistent with prior practice, was granted on the second business day following the Company's filing of its quarterly report on Form 10-Q for the period ending September 30, 2014.