4//SEC Filing
GAY JOHN M. 4
Accession 0001467154-23-000065
CIK 0001467154other
Filed
Jun 7, 8:00 PM ET
Accepted
Jun 8, 9:22 PM ET
Size
13.4 KB
Accession
0001467154-23-000065
Insider Transaction Report
Form 4
Novan, Inc.NOVN
GAY JOHN M.
VP, Finance & Corp. Controller
Transactions
- Exercise/Conversion
Common Stock
2023-06-07+65,000→ 67,500 total - Tax Payment
Common Stock
2023-06-07−20,669→ 46,831 total - Award
Restricted Stock Units
2023-06-06+65,000→ 65,000 total→ Common Stock (0 underlying) - Award
Restricted Stock Units
2023-06-06+200,000→ 200,000 total→ Common Stock (0 underlying) - Exercise/Conversion
Restricted Stock Units
2023-06-07−65,000→ 0 total→ Common Stock (0 underlying)
Footnotes (6)
- [F1]The Issuer approved the grant of restricted stock units ("RSUs") to the Reporting Person on February 28, 2023, subject to stockholder approval of the amendment to the Issuer's 2016 Incentive Award Plan (the "2016 Plan Amendment") under which the RSU was granted. The Issuer's stockholders approved the 2016 Plan Amendment on June 7, 2023. Each RSU represented a contingent right to receive one share of the Issuer's Common Stock. 65,000 RSUs fully vested on June 7, 2023 and were settled in shares of the Issuer's Common Stock.
- [F2]Estimated number of shares related to settle tax obligation calculated using the June 8, 2023 closing share price of $0.8526.
- [F3]Each RSU represents a contingent right to receive one share of the Issuer's Common Stock.
- [F4]The RSUs shall be fully vested at the close of business on the business day following the Issuer's annual meeting of stockholders where the 2016 Plan Amendment was approved, subject to the Reporting Person's continued employment with the Issuer as of the vesting date.
- [F5]The RSUs fully vested on June 7, 2023.
- [F6]One-half of the RSUs shall vest on June 6, 2024 and the remaining one-half of the RSUs shall vest on June 6, 2025, subject to the Reporting Person's continued employment with the Issuer as of each applicable vesting date.
Documents
Issuer
Novan, Inc.
CIK 0001467154
Entity typeother
Related Parties
1- filerCIK 0001765684
Filing Metadata
- Form type
- 4
- Filed
- Jun 7, 8:00 PM ET
- Accepted
- Jun 8, 9:22 PM ET
- Size
- 13.4 KB