Andrew T. Drechsler - 12 May 2021 Form 4 Insider Report for Provention Bio, Inc. (PRVB)

Role
Chief Financial Officer
Signature
/s/ Andrew T Drechsler
Issuer symbol
PRVB
Transactions as of
12 May 2021
Net transactions value
$0
Form type
4
Filing time
14 May 2021, 19:37:32 UTC
Next filing
17 Jun 2022
SEC
View on sec.gov

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 PRVB Stock Option (right to buy) Award $0 +139,500 $0.000000 139,500 12 May 2021 Common Stock, par value $0.0001 139,500 $6.80 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 69,750 of the options granted will vest as follows: 25% will vest and become exercisable on May 12, 2022 and 75% will vest and become exercisable monthly over 36 months such that these options will be fully vested and exercisable on May 12, 2025. The remaining 69,750 of the options granted will vest and become exercisable, if at all, in three equal installments of 23,250 options, with each such installment triggered upon the achievement of one of three separate corporate performance milestones prior to or during the year 2024.
F2 The securities were granted pursuant to the Issuer's Amended and Restated 2017 Equity Incentive Plan.