McKhann Chas 4
4 · Apollo Endosurgery, Inc. · Filed Mar 12, 2021
Insider Transaction Report
Form 4
McKhann Chas
DirectorPresident and CEO
Transactions
- Award
Common Stock
2021-03-10+707,278→ 707,278 total - Award
Stock Option (Right to Buy)
2021-03-10$5.95/sh+848,733$5,049,961→ 848,733 totalExercise: $5.95Exp: 2031-03-10→ Common Stock (848,733 underlying)
Footnotes (2)
- [F1]Represents the grant of Restricted Stock Units ("RSU"). Each RSU provides the Reporting Person with a contingent right to receive one share of the Issuer's common stock. One quarter of the RSU grant will vest upon the achievement of revenue for the trailing for the trailing four quarters equal to each of $50 million, $65 million, $80 million and $95 million, subject to the Reporting Person providing continuous service to the Issuer through each such date. Accelerated vesting may occur in the event of a Change in Control, as that term is defined in the Apollo Endosurgery, Inc. 2017 Equity Incentive Plan. The RSU grant, which was granted outside of the 2017 Equity Incentive Plan, was approved by the Issuer's Board of Directors and issued pursuant to the "inducement" grant exception under Listing Rule 5635(c)(4) of the Nasdaq Stock Market LLC. The RSU grant will be governed by the terms of the 2017 Equity Incentive Plan.
- [F2]The shares underlying the option will vest over a period of four years, with 25% of the shares vesting on the first anniversary of the grant date and the remainder will vest in equal monthly installments over the following three years, subject to the Reporting Person providing continuous service to the Issuer through each such date. Accelerated vesting may occur in the event of a Change in Control, as that term is defined in the Apollo Endosurgery, Inc. 2017 Equity Incentive Plan. The option, which was granted outside of the 2017 Equity Incentive Plan, was approved by the Issuer's Board of Directors and issued pursuant to the "inducement" grant exception under Listing Rule 5635(c)(4) of the Nasdaq Stock Market LLC. The option will be governed by the terms of the 2017 Equity Incentive Plan.