Hoitt Jason 4
4 · Dova Pharmaceuticals Inc. · Filed Nov 12, 2019
Insider Transaction Report
Form 4
Hoitt Jason
Chief Commercial Officer
Transactions
- Disposition to Issuer
Common Stock
2019-11-12−9,970→ 0 total - Disposition to Issuer
Employee Stock Option (Right to Buy)
2019-11-12−250,000→ 0 totalExercise: $6.07Exp: 2028-12-18→ Common Stock (250,000 underlying)
Footnotes (2)
- [F1]Disposed pursuant to an agreement and plan of merger by and between the Issuer, Swedish Orphan Biovitrum AB and Dragonfly Acquisition Corp. (the "Merger") in exchange for $27.50 per share of Issuer's common stock including any shares subject to each restricted stock unit on the effective date of the Merger, plus (ii) one non-transferable contingent value right per share, which represents the right to receive $1.50, without interest and subject to any withholding taxes, upon the achievement of a specified milestone.
- [F2]This option, which provided for vesting over a period of four years as follows: 25% of the total shares subject to the option shall vest on December 17, 2019, and 1/48th of total shares subject to the option shall vest monthly thereafter over the remaining three years of the vesting period, was accelerated and canceled in the Merger in exchange for a cash payment of $5,357,500.00, representing the difference between the exercise price of outstanding shares subject to the option and the market value of the underlying common stock on the effective date of the Merger ($27.50 per share). In addition, one non-transferable contingent value right per share, which represents the right to receive $1.50, without interest and subject to any withholding taxes, upon the achievement of a specified milestone was awarded to the Reporting Person for each outstanding share subject to the option.