Diaz-Mitoma Francisco 4
4 · VBI Vaccines Inc/BC · Filed Jul 2, 2020
Insider Transaction Report
Form 4
Diaz-Mitoma Francisco
Chief Medical Officer
Transactions
- Award
Option (Right to Buy Common Shares)
2020-07-01+167,150→ 167,150 totalExercise: $2.99Exp: 2030-07-01→ Common Shares (167,150 underlying)
Footnotes (3)
- [F1]Exercise price represents the volume weighted average closing price of the Issuer's common shares on the Nasdaq Capital Market for Grant Date (as defined below) and the four (4) trading days preceding the Grant Date.
- [F2]The reporting person is a participant in the Issuer's Incentive Plan (the "Plan"). The board of directors of the Issuer approved the option grant on July 1, 2020 (the "Grant Date"). The options were granted pursuant to that certain option agreement entered into by and between the Issuer and the reporting person, dated July 1, 2020 (the "Option Agreement"). 25% of the options vest and become exercisable on the one-year anniversary of the Grant Date, with the remaining 75% of the options vesting and becoming exercisable in 24 equal monthly installments beginning on the first day of the month following the one-year anniversary of the Grant Date, subject to the reporting person's employment on the relevant vesting date.
- [F3]The options expire 10 years from the Grant Date unless terminated sooner in accordance with the Plan or the Option Agreement.