Ferrigno Dean 4
4 · Sorrento Therapeutics, Inc. · Filed Sep 15, 2017
Insider Transaction Report
Form 4
Ferrigno Dean
Chief Accounting Officer
Transactions
- Other
Common Stock
2017-09-11+64→ 127 total
Footnotes (1)
- [F1]Pursuant to a stock purchase agreement by and among the Issuer, Scilex Pharmaceuticals Inc. ("Scilex"), the stockholders of Scilex party thereto and SPI Shareholders Representative, LLC, as representative of the Scilex Stockholders (the "Stock Purchase Agreement"), the Reporting Person sold 1,302 shares of common stock of Scilex to the Issuer and, upon the achievement of a milestone on September 11, 2017, the Issuer issued the Reporting Person 64 shares of the common stock of the Issuer. The Stock Purchase Agreement, which was entered into on November 8, 2016, placed a value on the Issuer's common stock of $6.33 per share. Contingent upon the achievement of such milestone, the Reporting Person's right to receive such shares became fixed and irrevocable on November 8, 2016.