4//SEC Filing
LPATH, INC 4
Accession 0001179110-16-033592
CIK 0001251769operating
Filed
Dec 28, 7:00 PM ET
Accepted
Dec 29, 9:41 PM ET
Size
9.8 KB
Accession
0001179110-16-033592
Insider Transaction Report
Form 4
LPATH, INCAPEN
Schwartzhoff Bret
V.P. U.S. Sales and Marketing
Transactions
- Other
Stock Options
2016-12-29+23,005→ 23,005 totalExercise: $3.36Exp: 2025-02-24→ Common Stock (23,005 underlying) - Other
Stock Options
2016-12-29+11,502→ 11,502 totalExercise: $1.76Exp: 2026-03-02→ Common Stock (11,502 underlying)
Footnotes (3)
- [F1]Shares of common stock of the corporation then known as Apollo Endosurgery, Inc. ("Old Apollo") were converted into shares of the Issuer pursuant to that certain Agreement and Plan of Merger and Reorganization, dated as of September 8, 2016, by and among the Issuer, Merger Sub, Inc. and Old Apollo (the "Merger Agreement"). Pursuant to the terms of the Merger Agreement, each share of common stock was converted into 0.3163 shares of the Issuer's common stock. Following the merger, the Issuer effected a reverse stock split at a ratio of one new share for every five and one half shares of common stock outstanding.
- [F2]On February 25, 2015, Reporting Person was granted an option to purchase 400,000 shares of the common stock of Old Apollo under Old Apollo's Equity Incentive Plan at an exercise price of $0.19 per share. Pursuant to the Merger Agreement, this option was converted into an option to purchase 23,005 shares of the Issuer's common stock at a per share exercise price of $3.36. Subject to Reporting Person's continued employment, one quarter of the option vested and became exercisable on December 14, 2015 with the remainder vesting monthly thereafter through 2018. Upon a change of control of the Issuer, 50% of any unvested portion of the option will become fully vested and exercisable.
- [F3]On March 3, 2016, Reporting Person was granted an option to purchase 200,000 shares of the common stock of Old Apollo under Old Apollo's Equity Incentive Plan at an exercise price of $0.10 per share. Pursuant to the Merger Agreement, this option was converted into an option to purchase 11,502 shares of the Issuer's common stock at a per share exercise price of $1.76. Subject to Reporting Person's continued employment, 100% of the option will vest and become exercisable upon approval of the achievement of certain revenue milestones. Upon a change of control of the Issuer, 50% of any unvested portion of the option will become fully vested and exercisable.
Documents
Issuer
LPATH, INC
CIK 0001251769
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001251769
Filing Metadata
- Form type
- 4
- Filed
- Dec 28, 7:00 PM ET
- Accepted
- Dec 29, 9:41 PM ET
- Size
- 9.8 KB