SPECTOR STEVEN W 4
4 · ARENA PHARMACEUTICALS INC · Filed Oct 16, 2019
Insider Transaction Report
Form 4
SPECTOR STEVEN W
SVP, General Counsel & Sec
Transactions
- Exercise/Conversion
Common Stock
2019-10-14+6,300→ 15,990 total - Tax Payment
Common Stock
2019-10-14$47.32/sh−3,123$147,780→ 12,867 total - Exercise/Conversion
Performance Restricted Stock Unit
2019-10-14−6,300→ 18,900 totalExp: 2022-01-03→ Common Stock (6,300 underlying)
Footnotes (3)
- [F1]On January 4, 2019, the Reporting Person was granted 12,600 target Performance Restricted Stock Units ("PRSUs"). The PRSUs represented a contingent right to receive a number of shares of Arena's common stock equal to 50%, 100%, or 200% of the target PRSU amount. Such common shares vest, if at all, upon the closing price of Arena's common stock (the "Closing Price") reaching certain thresholds during the three-year performance period from January 4, 2019, through January 3, 2022 (the "Performance Period") and satisfaction of a subsequent continuing service requirement. On October 14, 2019, 6,300 of the shares subject to the PRSUs vested (50% of the target amount). Up to an additional 18,900 shares remain issuable pursuant to the PRSUs (200% of the target amount, less the 50% already vested) if all currently outstanding Closing Price targets are met during the Performance Period and subsequent continuing service requirements are met.
- [F2]Represents the number of shares withheld by, and surrendered to, Arena relating to tax withholding in connection with the issuance of shares under the PRSUs.
- [F3]The amount reported in Column 7 of Table II represents the common shares that vested on October 14, 2019. Under the PRSUs, the Reporting Person has a contingent right to receive up to 18,900 additional common shares if all currently outstanding Closing Price targets are met during the Performance Period and subsequent continuing service requirements are met.