CADENCE PHARMACEUTICALS INC 4
4 · CADENCE PHARMACEUTICALS INC · Filed Feb 12, 2014
Insider Transaction Report
Form 4
Byrd Scott A.
SVP, Chief Commercial Officer
Transactions
- Award
Restricted Stock Units
2014-02-10+100,000→ 100,000 total→ common stock (100,000 underlying)
Footnotes (2)
- [F1]Each restricted stock unit represents a contingent right to receive one share of the Company's common stock.
- [F2]25% of the shares subject to the restricted stock unit award shall vest and convert into shares of common stock on each of March 9, 2015, 2016, 2017 and 2018, subject to the participant's continued status as an Employee, Independent Director or Consultant of the Company, or any Parent or Subsidiary, on the applicable vesting date. In the event that the Company's pending merger with Mallinckrodt plc closes, at the effective time of the merger, these restricted stock units will be converted into a right to receive a cash payment upon vesting equal to the product of the merger consideration, without interest, and the number of shares of the Company's common stock subject to this grant, which we refer to as a "Converted Award." The "Converted Award" will vest in accordance with the original vesting schedule of the restricted stock units, subject to accelerated vesting upon the earlier to occur of (a) September 11, 2014 or (b) certain terminations of the reporting person's employment.