4//SEC Filing
Ullerich Melissa Vera 4
Accession 0001493152-21-026383
CIK 0001833214other
Filed
Oct 25, 8:00 PM ET
Accepted
Oct 26, 9:48 PM ET
Size
15.5 KB
Accession
0001493152-21-026383
Insider Transaction Report
Form 4
Ullerich Melissa Vera
Chief Communications Officer
Transactions
- Award
Employee Stock Option (right to buy)
2021-10-22+6,979→ 6,979 totalExercise: $1.25Exp: 2030-04-27→ Common Stock (6,979 underlying) - Award
Employee Stock Option (right to buy)
2021-10-22+58,161→ 58,161 totalExercise: $1.00Exp: 2028-11-01→ Common Stock (58,161 underlying) - Award
Employee Stock Option (right to buy)
2021-10-22+104,689→ 104,689 totalExercise: $1.88Exp: 2031-06-17→ Common Stock (104,689 underlying) - Award
Earnout Rights (Restricted Stock Units)
2021-10-22+50,988→ 50,988 total→ Common Stock (50,988 underlying)
Footnotes (6)
- [F1]Pursuant to the Agreement and Plan of Merger, dated June 21, 2021 and as amended August 12, 2021 (the "Business Combination Agreement"), by and among Big Cypress Acquisition Corp. ("BCYP"), Big Cypress Merger Sub Inc., and SAB Biotherapeutics, Inc. ("Old SAB Biotherapeutics"), each security to purchase shares of Old SAB Biotherapeutics common stock issued and outstanding immediately prior to the effective time of the transactions contemplated by the Business Combination Agreement was automatically converted into a security to purchase a number of shares of the Issuer's common stock based on a conversion rate of $10.10. Upon consummation of the business combination, BCYP changed its name to "SAB Biotherapeutics, Inc." ("New SAB Biotherapeutics" or "Issuer").
- [F2]The option is fully vested.
- [F3]The option shall vest and become exercisable over a period of 36 months from the Vesting Start Date, November 1, 2018, with 1/3 vesting on the first anniversary of the Vesting Start Date and the remaining balance to vest on a monthy basis for a period of 24 months thereafter, such that the option will be fully vested 36 months from the Vesting Start Date, subject to the reporting person's continuous service with the Issuer on each such date.
- [F4]The option shall vest and become exercisable over a period of 36 months from the Vesting Start Date, March 29, 2020, with 1/3 vesting on the first anniversary of the Vesting Start Date and the remaining balance to vest on a monthy basis for a period of 24 months thereafter, such that the option will be fully vested 36 months from the Vesting Start Date, subject to the reporting person's continuous service with the Issuer on each such date.
- [F5]Pursuant to the earnout provisions in the Business Combination Agreement, the reporting person is entitled to receive shares of New SAB Biotherapeutics common stock if, from the closing of the transaction until the fifth anniversary thereof, the volume-weighted average price of the common stock equals or exceeds certain thresholds (the "Earnout Shares"). Subject to adjustment as provided in the Business Combination Agreement, the Earnout Shares will be released as follows: [continued in the next footnote.]
- [F6]25% of the Earnout Shares will be released if within the five-year period after the closing (the "Earnout Period"), the volume weighted share price of the New SAB Biotherapeutics common stock equals or exceeds $15.00 during at least 20 trading days within a 30-day trading period; 25% of the Earnout Shares will be released if within the Earnout Period, the volume weighted share price of the New SAB Biotherapeutics common stock equals or exceeds $20.00 during at least 20 trading days within a 30-day trading period; 25% of the Earnout Shares will be released if within the Earnout Period, the volume weighted share price of the New SAB Biotherapeutics common stock equals or exceeds $25.00 during at least 20 trading days within a 30-day trading period; and 25% of the Earnout Shares will be released if within the Earnout Period, the volume weighted share price of the New SAB Biotherapeutics common stock equals or exceeds $30.00 during at least 20 trading days within a 30-day trading period.
Documents
Issuer
SAB Biotherapeutics, Inc.
CIK 0001833214
Entity typeother
Related Parties
1- filerCIK 0001889813
Filing Metadata
- Form type
- 4
- Filed
- Oct 25, 8:00 PM ET
- Accepted
- Oct 26, 9:48 PM ET
- Size
- 15.5 KB