Meyer Ernie 4
4 · PORTOLA PHARMACEUTICALS INC · Filed Feb 4, 2020
Insider Transaction Report
Form 4
Meyer Ernie
EVP and CHRO
Transactions
- Award
Common Stock
2020-01-31+16,250→ 61,482 total - Tax Payment
Common Stock
2020-02-03$12.89/sh−3,544$45,682→ 57,938 total - Award
Stock Option (Right to Buy)
2020-01-31+65,000→ 65,000 totalExercise: $12.79Exp: 2030-01-30→ Common Stock (65,000 underlying)
Footnotes (3)
- [F1]Grant of Restricted Stock Units ("RSUs") in consideration of services rendered. The RSUs vest in three equal annual installments subject to Reporting Person's Continuous Service under the Issuer's plan documents as of each vest date.
- [F2]Represents the number of shares required to be sold by the reporting person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person. The sale is intended to comply with the requirements of Rule 10b5-1(c)(1)(i)(B) under the Exchange Act and be interpreted to meet the requirements of Rule 10b5-1(c).
- [F3]The options shall vest as follows: 1/48th of the shares subject to the option shall vest each month after January 31, 2020, subject to the Reporting Person's Continuous Service as of each such date.