Cabell Christopher 4
4 · ARENA PHARMACEUTICALS INC · Filed Nov 30, 2020
Insider Transaction Report
Form 4
Cabell Christopher
EVP, Head of R&D, and CMO
Transactions
- Exercise/Conversion
Performance Restricted Stock Unit
2020-11-25−2,500→ 5,000 totalExp: 2022-01-03→ Common Stock (2,500 underlying) - Tax Payment
Common Stock
2020-11-25$65.50/sh−1,099$71,985→ 1,401 total - Exercise/Conversion
Common Stock
2020-11-25+2,500→ 2,500 total
Footnotes (3)
- [F1]On January 4, 2019, the Reporting Person was granted 5,000 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 Arena's common stock reaching certain Nasdaq "Closing Price" thresholds during the 3-year performance period from Jan. 4, 2019, through Jan. 3, 2022 (the "Performance Period") and satisfaction of a subsequent continuing service requirement. 2,500 of the shares subject to the PRSUs vested in Oct. 2019 (50% of the target amount). On Nov. 25, 2020, another 2,500 of the shares subject to the PRSUs vested (50% of the target amount). The final Closing Price target has been met and an additional 5,000 shares will be issuable pursuant to the PRSUs (200% of the target amount, less the 100% already vested) if the Reporting Person satisfies the subsequent continuing service requirement.
- [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 November 25, 2020. The PRSUs' final Closing Price target has been met and the Reporting Person has a contingent right to receive 5,000 additional common shares if the subsequent continuing service requirement is met.