4//SEC Filing
Salka Michael Scott 4
Accession 0001181431-12-055216
CIK 0000850261other
Filed
Oct 18, 8:00 PM ET
Accepted
Oct 19, 8:14 PM ET
Size
8.7 KB
Accession
0001181431-12-055216
Insider Transaction Report
Form 4
Salka Michael Scott
Director
Transactions
- Award
Non-qualified stock option
2012-10-17+400,000→ 400,000 totalExercise: $0.16Exp: 2022-10-17→ Common Stock (400,000 underlying) - Disposition to Issuer
Call option
2012-10-17−300,000→ 0 totalExercise: $0.16Exp: 2022-05-15→ Common Stock (300,000 underlying)
Footnotes (4)
- [F1]The reporting person purchased the call option (the "Option") for no consideration pursuant to a grant of the Option made by SDL Ventures, LLC, which is controlled by Donald R. Scifres ("Scifres"), on May 15, 2012. The Option entitled the reporting person to purchase shares of the issuer for $0.16 per share, subject to vesting, as described in footnote 3. The common stock of the issuer underlying the Option was deemed to have been purchased on December 29, 2011 by Donald R. Scifres 2011 Annuity Trust, which is controlled by Scifres, for a purchase price of $0.16 per share.
- [F2]The Option was surrendered to the issuer by the reporting person.
- [F3]1/3 of the shares underlying the Option were scheduled to vest on February 15, 2013, subject to the reporting person's continuous service on the issuer's board of directors through such date and the remainder of the shares underlying the Option were scheduled to vest in equal monthly installments over the remaining 24 months thereafter, subject to the reporting person's continuous service on the issuer's board of directors through each such vesting date.
- [F4]1/48 of the original number of shares subject to this option shall vest and become exercisable following each one-month period of service starting on February 15, 2012, subject to the reporting person's continued service on the issuer's board of directors on each such date.
Documents
Issuer
Sorrento Therapeutics, Inc.
CIK 0000850261
Entity typeother
Related Parties
1- filerCIK 0001542981
Filing Metadata
- Form type
- 4
- Filed
- Oct 18, 8:00 PM ET
- Accepted
- Oct 19, 8:14 PM ET
- Size
- 8.7 KB