Damaj Bassam 4
4 · INNOVUS PHARMACEUTICALS, INC. · Filed Feb 19, 2013
Insider Transaction Report
Form 4
Damaj Bassam
DirectorPresident and CEO10% Owner
Transactions
- Award
Restricted Stock Units
2013-02-15+6,000,000→ 6,000,000 total→ Common Stock (6,000,000 underlying)
Footnotes (2)
- [F1]Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.
- [F2]Issued pursuant to employment agreement between the Issuer and the Reporting Person. 2,000,000 out of 6,000,000 restricted stock units subject to this award were vested on the grant date. The remaining 4,000,000 restricted stock units will vest in eight equal installments on a quarterly basis with the first such installment occurring on April 1, 2013 and the last such installment occurring on January 1, 2015, subject to continuing service. The restricted stock units will settle upon the earliest to occur of (i) the Reporting Person's service termination date, (ii) a change in control, or (iii) January 22, 2020.