4//SEC Filing
Adverum Biotechnologies, Inc. 4
Accession 0001209191-16-120043
CIK 0001501756operating
Filed
May 12, 8:00 PM ET
Accepted
May 13, 5:52 PM ET
Size
11.3 KB
Accession
0001209191-16-120043
Insider Transaction Report
Form 4
Salzman Amber
DirectorPresident and COO
Transactions
- Award
Common Stock
2016-05-11+629,766→ 629,766 total - Award
Stock Option (Right to Buy)
2016-05-11+377,890→ 377,890 totalExercise: $0.21Exp: 2025-10-20→ Common Stock (377,890 underlying) - Award
Stock Option (Right to Buy)
2016-05-11+218,000→ 218,000 totalExercise: $4.14Exp: 2026-05-10→ Common Stock (218,000 underlying)
Footnotes (4)
- [F1]The Reporting Person acquired 629,766 shares of the Issuer's common stock, par value $0.0001 per share (the "Adverum Common Stock"), in exchange for all of her shares of Annapurna Therapeutics SAS ("Annapurna"), pursuant to that acquisition agreement, dated as of January 29, 2016 and amended on April 6, 2016, by and among the Issuer, Annapurna, the shareholders of Annapurna and Shareholder Representative Services, LLC (the "Acquisition Agreement").
- [F2]Pursuant to the Acquisition Agreement, at the closing of the transactions contemplated thereby, the Reporting Person's option to purchase shares of Annapurna (the "Annapurna Option") converted into an option relating to Adverum Common Stock (the "Adverum Option"). The amount of shares underlying the Adverum Option is equal to the number of shares of Annapurna common stock subject to the Annapurna Option multiplied by an exchange ratio of 9.54655 (the "Exchange Ratio") and rounded down to the nearest whole number. The exercise price per share of the Adverum Option is equal to the exercise price per share of the Annapurna Option divided by the Exchange Ratio.
- [F3]The shares subject to the option vest and become exercisable in 38 successive, equal monthly installments starting on May 1, 2016, subject to the Reporting Person's continued service with the Issuer on each such vesting date.
- [F4]Twenty-five percent (25%) of the shares subject to the option vest and become exercisable on the first anniversary of May 11, 2016 (the "Vesting Commencement Date"), and then 1/48th of the shares subject to the option vest and become exercisable monthly thereafter, such that all of the shares subject to the option shall become vested and exercisable as of the fourth anniversary of the Vesting Commencement Date, subject to the Reporting Person's continued service with the Issuer on each such vesting date.
Documents
Issuer
Adverum Biotechnologies, Inc.
CIK 0001501756
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001501756
Filing Metadata
- Form type
- 4
- Filed
- May 12, 8:00 PM ET
- Accepted
- May 13, 5:52 PM ET
- Size
- 11.3 KB