Orexigen Therapeutics, Inc. 4
4 · Orexigen Therapeutics, Inc. · Filed Jul 14, 2016
Insider Transaction Report
Form 4
Cannell Thomas R
Chief Commercial Officer
Transactions
- Award
Stock Option
2016-07-12+31,500→ 31,500 totalExercise: $15.00Exp: 2026-07-11→ Common Stock (31,500 underlying) - Award
Stock Option
2016-07-12+262,500→ 262,500 totalExercise: $4.02Exp: 2026-07-11→ Common Stock (262,500 underlying) - Award
Stock Option
2016-07-12+157,500→ 157,500 totalExercise: $15.00Exp: 2026-07-11→ Common Stock (157,500 underlying) - Award
Stock Option
2016-07-12+52,500→ 52,500 totalExercise: $4.02Exp: 2026-07-11→ Common Stock (52,500 underlying)
Footnotes (3)
- [F1]Thirty-three and one-third percent (33-1/3%) of the shares of stock subject to the option (rounded down to the next whole number of shares) shall vest on the one year anniversary of 07/12/2016, and 1/36 of the shares of stock subject to the option (rounded down to the next whole number of shares) shall vest on the same day of each month thereafter, so that all of the shares of the stock subject to the option shall be vested on the third (3rd) anniversary of 07/12/2016, subject to the employee's continued service relationship (whether as an employee, director or consultant) with the Corporation or any parent or subsidiary on each such date, as set forth in the applicable stock option grant notice and stock option agreement for such employee.
- [F2]Not Applicable
- [F3]One hundred percent (100%) of the shares of stock subject to the option shall vest on the date on which, during fiscal year 2017, the Corporation achieves at least $130M in global product net sales, subject to the employee's continued service relationship (whether as an employee, director or consultant) with the Corporation or any parent or subsidiary through such date; provided, that if (x) a Change in Control ((as defined in the Plan) occurs at any time before the end of such 2017 fiscal year and (y) the price per share of the Corporation's common stock immediately prior to such Change in Control is at least equal to $7.50, such option shall become fully vested immediately prior to such Change in Control, subject to the employee's continued service relationship (whether as an employee, director or consultant) with the Corporation or any parent or subsidiary.