4//SEC Filing
Byrnes Michael 4
Accession 0001209191-21-053691
CIK 0001828522other
Filed
Aug 26, 8:00 PM ET
Accepted
Aug 27, 6:01 PM ET
Size
9.2 KB
Accession
0001209191-21-053691
Insider Transaction Report
Form 4
Byrnes Michael
Chief Financial Officer
Transactions
- Award
Stock Option (Right to Buy)
2021-08-25+337,997→ 337,997 totalExercise: $2.39Exp: 2030-12-09→ Common Stock (337,997 underlying) - Award
Earn-out Right
2021-08-25+49,790→ 49,790 total→ Common Stock (49,790 underlying)
Footnotes (3)
- [F1]On August 25, 2021, pursuant to that certain Agreement and Plan of Merger, dated as of May 26, 2021 (the "Merger Agreement"), by and among the Issuer (f/k/a Locust Walk Acquisition Corp.), Locust Walk Merger Sub, Inc. ("Merger Sub"), and eFFECTOR Therapeutics, Inc. ("Old eFFECTOR"), Merger Sub merged with and into Old eFFECTOR with Old eFFECTOR surviving as a wholly owned subsidiary of the Issuer (the "Merger"). Upon consummation of the Merger (the "Effective Time"), each outstanding option to purchase shares of old eFFECTOR common stock (each an "old eFFECTOR Option") was automatically cancelled and converted into an option to purchase a number of shares of common stock of the Issuer equal to (i) the number of shares of old eFFECTOR common stock subject to the applicable old eFFECTOR Option multiplied by (ii) approximately 0.09657, rounded down to the nearest whole share.
- [F2]The stock option vests 25% on December 7, 2021, and in 36 monthly installments thereafter, subject to the Reporting Person's continued service through the applicable vesting date.
- [F3]Each earn-out right represents a contingent right to receive one share of the Issuer's common stock. Pursuant to an "Earn-Out" provision in the Merger Agreement, the earn-out rights vest upon the Issuer's common stock achieving a price per share which equals or exceeds $20.00 over at least 20 trading days out of a 30 consecutive trading day period prior to August 26, 2023.
Documents
Issuer
eFFECTOR Therapeutics, Inc.
CIK 0001828522
Entity typeother
Related Parties
1- filerCIK 0001619893
Filing Metadata
- Form type
- 4
- Filed
- Aug 26, 8:00 PM ET
- Accepted
- Aug 27, 6:01 PM ET
- Size
- 9.2 KB