Mark A. Sirgo - 23 Aug 2021 Form 4 Insider Report for BIODELIVERY SCIENCES INTERNATIONAL INC (BDSI)

Role: Director
Signature: /s/ Mark A. Sirgo
Issuer symbol: BDSI
Transactions as of: 23 Aug 2021
Net transactions value: +$180,480
Form type: 4
Filing time: 25 Aug 2021, 16:37:18 UTC
Previous filing: 23 Aug 2021
Next filing: 08 Sep 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BDSI	Common Stock	Options Exercise	$0	+4,000	+0.36%	$0.000000	1,114,595	23 Aug 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BDSI	Stock Options (right to buy)	Award	$180,480	+48,000		$3.76	48,000	23 Aug 2021	Common Stock	48,000	$3.76	Direct	F2
transaction	BDSI	Restricted Stock Units	Award	$0	+8,000		$0.000000	8,000	23 Aug 2021	Common Stock	8,000	$0.000000	Direct	F1
transaction	BDSI	Restricted Stock Units	Options Exercise	$0	-4,000	-50%	$0.000000	4,000	23 Aug 2021	Common Stock	4,000	$0.000000	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The restricted stock units ("RSUs") were issued to the Reporting Person on August 23, 2021 (the "Effective Date"), as compensation for service on the Company's board of directors. The RSUs vest as follows: (i) 4,000 RSUs vested in the first open window following the filing of the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, and (ii) 4,000 RSUs will vest upon the earlier of (i) the first anniversary of the Effective Date or (ii) the Company's 2022 Annual Meeting of Stockholders.
F2	The stock options ("options") were issued to the Reporting Person on the Effective Date, as compensation for service on the Company's board of directors. The options vest as follows: (i) 24,000 options vested in the first open window following the filing of the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, and (ii) 24,000 options will vest upon the earlier of (i) the first anniversary of the Effective Date or (ii) the Company's 2022 Annual Meeting of Stockholders.

Content

The restricted stock units ("RSUs") were issued to the Reporting Person on August 23, 2021 (the "Effective Date"), as compensation for service on the Company's board of directors. The RSUs vest as follows: (i) 4,000 RSUs vested in the first open window following the filing of the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, and (ii) 4,000 RSUs will vest upon the earlier of (i) the first anniversary of the Effective Date or (ii) the Company's 2022 Annual Meeting of Stockholders.

The stock options ("options") were issued to the Reporting Person on the Effective Date, as compensation for service on the Company's board of directors. The options vest as follows: (i) 24,000 options vested in the first open window following the filing of the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, and (ii) 24,000 options will vest upon the earlier of (i) the first anniversary of the Effective Date or (ii) the Company's 2022 Annual Meeting of Stockholders.