Axel Bolte - 11 Jul 2023 Form 4 Insider Report for IVERIC bio, Inc. (ISEE)

Role
Director
Signature
/s/ Todd D.C. Anderman, as Attorney-in-Fact for Axel Bolte
Issuer symbol
ISEE
Transactions as of
11 Jul 2023
Transactions value $
$0
Form type
4
Filing time
13 Jul 2023, 13:55:28 UTC
Previous filing
15 Jun 2023
Next filing
20 Jun 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ISEE Common Stock Disposed to Issuer -22,088 -100% 0 11 Jul 2023 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 ISEE Restricted Stock Units Disposed to Issuer -7,500 -100% 0 11 Jul 2023 Common Stock 7,500 Direct F2, F3
transaction ISEE Stock Option (Right to Buy) Disposed to Issuer -16,000 -100% 0 11 Jul 2023 Common Stock 16,000 $2.46 Direct F4
transaction ISEE Stock Option (Right to Buy) Disposed to Issuer -16,000 -100% 0 11 Jul 2023 Common Stock 16,000 $2.78 Direct F4
transaction ISEE Stock Option (Right to Buy) Disposed to Issuer -16,000 -100% 0 11 Jul 2023 Common Stock 16,000 $1.39 Direct F4
transaction ISEE Stock Option (Right to Buy) Disposed to Issuer -16,000 -100% 0 11 Jul 2023 Common Stock 16,000 $4.14 Direct F4
transaction ISEE Stock Option (Right to Buy) Disposed to Issuer -15,500 -100% 0 11 Jul 2023 Common Stock 15,500 $6.82 Direct F4
transaction ISEE Stock Option (Right to Buy) Disposed to Issuer -23,186 -100% 0 11 Jul 2023 Common Stock 23,186 $9.94 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Axel Bolte is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On July 11, 2023, pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated April 28, 2023, by and among IVERIC bio, Inc. ("IVERIC"), Astellas US Holding, Inc., Berry Merger Sub, Inc. ("Merger Sub") and, solely as provided by Section 8.10(b) of the Merger Agreement, Astellas Pharma Inc. ("Astellas"), Merger Sub merged with and into IVERIC, with IVERIC surviving the merger and becoming an indirect wholly owned subsidiary of Astellas (the "Merger"). At the effective time of the Merger (the "Effective Time"), each share of IVERIC common stock ("Common Stock") reported in this Form 4 was automatically cancelled and was converted into the right to receive $40.00 in cash, without interest and less any applicable withholding taxes.
F2 Each IVERIC restricted stock unit ("RSU") represented the contingent right to receive one share of Common Stock upon vesting of the RSU.
F3 Pursuant to the Merger Agreement, at the Effective Time, each RSU reported in this Form 4 was cancelled and converted into the right to receive a cash payment (subject to any applicable tax withholding) equal to (1) $40.00, multiplied by (2) the number of shares of Common Stock subject to such RSU.
F4 Pursuant to the Merger Agreement, at the Effective Time, each option to acquire Common Stock ("IVERIC Option") reported in this Form 4 which had a per share exercise price less than $40.00 was cancelled and converted into the right to receive a cash payment (subject to any applicable tax withholding) equal to (1) the excess of $40.00 over the exercise price per share of Common Stock underlying such IVERIC Option, multiplied by (2) the total number of shares of Common Stock subject to such IVERIC Option immediately prior to the Effective Time (without regard to vesting). Each IVERIC Option reported in this Form 4 which had a per share exercise price $40.00 or greater was cancelled with no consideration payable in respect thereof.