Jeff Baxter - 27 Jan 2022 Form 4 Insider Report for VBI Vaccines Inc/BC (VBIV)

Role
CEO, President, Director
Signature
/s/ Jeff Baxter
Issuer symbol
VBIV
Transactions as of
27 Jan 2022
Transactions value $
$0
Form type
4
Filing time
31 Jan 2022, 16:40:13
Previous filing
22 Jun 2021
Next filing
30 Jan 2023
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 VBIV Option (Right to Buy Common Shares) Award $0 +800K $0.00 800K 27 Jan 2022 Common Shares 800K $1.53 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person is a participant in the Issuer's Incentive Plan (the "Plan"). The board of directors of the Issuer approved the option grant on January 27, 2022 (the "Grant Date"). The options were granted pursuant to that certain option agreement entered into by and between the Issuer and the reporting person, dated January 27, 2022 (the "Option Agreement"). 25% of the options vest and become exercisable on the one-year anniversary of the Grant Date, with the remaining 75% of the options vesting and becoming exercisable in 24 equal monthly installments beginning on the first day of the month following the one-year anniversary of the Grant Date, subject to the reporting person's employment on the relevant vesting date.
F2 The options expire 10 years from the Grant Date unless terminated sooner in accordance with the Plan or the Option Agreement.