4//SEC Filing
PERNIX THERAPEUTICS HOLDINGS, INC. 4
Accession 0001354488-15-003961
CIK 0001024126operating
Filed
Aug 17, 8:00 PM ET
Accepted
Aug 18, 6:40 PM ET
Size
8.5 KB
Accession
0001354488-15-003961
Insider Transaction Report
Form 4
Patel Sanjay S
Chief Financial Officer
Transactions
- Award
Options (right to buy)
2015-08-14+0→ 0 totalExercise: $4.70Exp: 2025-08-14→ Common Stock - Award
Options (right to buy)
2015-08-14+120,000→ 120,000 totalExercise: $4.70Exp: 2025-08-14→ Common Stock (120,000 underlying)
Footnotes (2)
- [F1]70,000 shares is the target amount of shares underlying the granted option (the ?Performance Option?). The actual number of shares the Performance Options are exercisable for, if any, will be determined on August 14, 2018 or sooner if a change of control occurs (the ?Measuring Date?) based upon the average closing bid price of the Company?s Common Stock for the twenty trading days ending on the Measuring Date. If the average closing bid price of the Company?s Common Stock for the twenty trading days immediately ending on the Measuring Date is (i) less than $20 per share, no Performance Options vest, (ii) $20 per share or more and less than $25 per share, then 35,000 of the Performance Options vest, (iii) $25 per share or more and less than $30 per share, then 52,500 of the Performance Options vest, (iii) $30 per share or more and less than $35 per share, then 70,000 of the Performance Options vest, and (iv) $35 per share or more, then 105,000 of the Performance Options vest. 50% of the shares that vest as described above will be exercisable on the Measuring Date and the remaining fifty 50% of such vested options shall be exercisable one year after the Measuring Date.
- [F2]The stock options vest in annual 30,000 share installments with the first installment vesting on the first anniversary of the date of grant and the final installment vesting on the fourth anniversary thereof.
Documents
Issuer
PERNIX THERAPEUTICS HOLDINGS, INC.
CIK 0001024126
Entity typeoperating
IncorporatedMD
Related Parties
1- filerCIK 0001024126
Filing Metadata
- Form type
- 4
- Filed
- Aug 17, 8:00 PM ET
- Accepted
- Aug 18, 6:40 PM ET
- Size
- 8.5 KB