4//SEC Filing
SCIFRES DONALD R 4
Accession 0001181431-12-030291
CIK 0000850261other
Filed
May 15, 8:00 PM ET
Accepted
May 16, 4:08 PM ET
Size
6.5 KB
Accession
0001181431-12-030291
Insider Transaction Report
Form 4
SCIFRES DONALD R
10% Owner
Transactions
- Sale
Call Option (Obligation to Sell)
2012-05-15−300,000→ 300,000 total(indirect: See Footnote)Exercise: $0.16Exp: 2022-05-15→ Common Stock (300,000 underlying)
Footnotes (3)
- [F1]SDL Ventures, LLC ("SDL"), an entity controlled by the Reporting Person, sold the call option (the "Option") to Scott M. Salka for no consideration pursuant to a grant of such Option made by SDL on May 15, 2012. The Option entitles Mr. Salka to purchase shares of Sorrento Therapeutics, Inc. ("Sorrento") for $0.16 per share, subject to vesting, as described in footnote 2. The common stock of Sorrento underlying the Option may be deemed to have been purchased on December 29, 2011 by Donald R. Scifres 2011 Annuity Trust, which is controlled by the Reporting Person, for a purchase price of $0.16 per share.
- [F2]One third of the shares underlying the Option shall vest on February 15, 2013, subject to the Salka's continuous service on Sorrento's board of directors through such date, and the remainder of the shares underlying the Option shall vest in equal monthly installments over the remaining 24 months thereafter, subject to Salka's continuous service on Sorrento's board of directors through each such vesting date.
- [F3]The Option is owned by SDL, which is controlled by the Reporting Person.
Documents
Issuer
Sorrento Therapeutics, Inc.
CIK 0000850261
Entity typeother
Related Parties
1- filerCIK 0001008155
Filing Metadata
- Form type
- 4
- Filed
- May 15, 8:00 PM ET
- Accepted
- May 16, 4:08 PM ET
- Size
- 6.5 KB