4//SEC Filing
PAPPAS PETER J 4
Accession 0001181431-10-042880
CIK 0000704384other
Filed
Aug 19, 8:00 PM ET
Accepted
Aug 20, 4:56 PM ET
Size
9.3 KB
Accession
0001181431-10-042880
Insider Transaction Report
Form 4
BIOVEST INTERNATIONAL INCBVTI.OB
PAPPAS PETER J
Director
Transactions
- Award
Stock Option (Right to Buy)
2009-02-24+100,000→ 100,000 totalExercise: $0.07Exp: 2019-02-24→ Common Stock (100,000 underlying) - Award
Stock Option (Right to Buy)
2010-02-22+200,000→ 200,000 totalExercise: $0.69Exp: 2020-02-22→ Common Stock (200,000 underlying)
Footnotes (6)
- [F1]Exercise price is 110% of fair market value on date of grant.
- [F2]The options shall vest in three equal tranches: (a) one-third on the date of confirmation of the Issuer's Bankruptcy Plan of Reorganization; (b) one-third on the 90th after the date of confirmation of the Issuer's Bankruptcy Plan of Reorganization; and (c) one-third on the 180th after the date of confirmation of the Issuer's Bankruptcy Plan of Reorganization. Shares underlying the options are restricted as to resale until the 12- month anniversary of the effective date of the Issuer's Bankruptcy Plan of Reorganization.
- [F3]Options terminate 10 years from grant date, or 90 days after the non-employee director ceases to be a director for any reason, other than death, disability or retirement.
- [F4]Stock options acquired pursuant to the Issuer's plan of compensation for Directors.
- [F5]Exercise price is 100% of fair market value on date of grant.
- [F6]The option shall become 100% vested upon effective date of the Issuer's Bankruptcy Plan of Reorganization and the first to occur of a) six (6) months following the closing of a capital raise by the Issuer's with gross proceeds of a minimum of $5.0 million; or b) two (2) years from the effective date of the Issuer's Bankruptcy Plan. Shares underlying the options are restricted as to resale until the 12- month anniversary of the effective date of the Issuer's Bankruptcy Plan of Reorganization.
Documents
Issuer
BIOVEST INTERNATIONAL INC
CIK 0000704384
Entity typeother
Related Parties
1- filerCIK 0001145422
Filing Metadata
- Form type
- 4
- Filed
- Aug 19, 8:00 PM ET
- Accepted
- Aug 20, 4:56 PM ET
- Size
- 9.3 KB