FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 03/28/2014 |
3. Issuer Name and Ticker or Trading Symbol
DURECT CORP [ DRRX ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Beneficially Owned | |||
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1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 11,104(1) | D |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Incentive Stock Option (right to buy) | (2) | 04/11/2022 | Common Stock | 7,500 | $0.73 | D | |
Incentive Stock Option (right to buy) | (3) | 02/03/2022 | Common Stock | 40,137 | $0.78 | D | |
Incentive Stock Option (right to buy) | (4) | 02/05/2023 | Common Stock | 50,625 | $1.21 | D | |
Incentive Stock Option (right to buy) | (5) | 05/21/2019 | Common Stock | 6,377 | $2.09 | D | |
Incentive Stock Option (right to buy) | (6) | 01/31/2024 | Common Stock | 73,552 | $2.09 | D | |
Incentive Stock Option (right to buy) | (7) | 01/22/2020 | Common Stock | 31,250 | $2.18 | D | |
Incentive Stock Option (right to buy) | (8) | 01/27/2019 | Common Stock | 20,570 | $3.11 | D | |
Incentive Stock Option (right to buy) | (9) | 01/20/2021 | Common Stock | 32,271 | $3.26 | D | |
Incentive Stock Option (right to buy) | (10) | 07/07/2018 | Common Stock | 13,129 | $3.87 | D | |
Incentive Stock Option (right to buy) | (11) | 08/14/2017 | Common Stock | 50,000 | $4.85 | D | |
Incentive Stock Option (right to buy) | (12) | 01/18/2018 | Common Stock | 20,712 | $5.89 | D | |
Non-Qualified Stock Option (right to buy) | (2) | 04/11/2022 | Common Stock | 12,500 | $0.73 | D | |
Non-Qualified Stock Option (right to buy) | (13) | 02/03/2022 | Common Stock | 57,820 | $0.78 | D | |
Non-Qualified Stock Option (right to buy) | (14) | 02/05/2023 | Common Stock | 85,472 | $1.21 | D | |
Non-Qualified Stock Option (right to buy) | (5) | 05/21/2019 | Common Stock | 44,623 | $2.09 | D | |
Non-Qualified Stock Option (right to buy) | (15) | 01/31/2024 | Common Stock | 56,900 | $2.09 | D | |
Non-Qualified Stock Option (right to buy) | (16) | 01/22/2020 | Common Stock | 92,473 | $2.18 | D | |
Non-Qualified Stock Option (right to buy) | (17) | 03/31/2020 | Common Stock | 5,000 | $3.01 | D | |
Non-Qualified Stock Option (right to buy) | (8) | 01/27/2019 | Common Stock | 75,430 | $3.11 | D | |
Non-Qualified Stock Option (right to buy) | (9) | 01/20/2021 | Common Stock | 57,729 | $3.26 | D | |
Non-Qualified Stock Option (right to buy) | (10) | 07/07/2018 | Common Stock | 11,871 | $3.87 | D |
Explanation of Responses: |
1. Acquired through Durect's Employee Stock Purchase Plan between the dates 04/30/2008 through 10/31/2013. |
2. ISO/NQ Grants Dated April 11, 2012 will vest as follows: 1/16 of the total shares subject to the option shall vest quarterly over 4 years following the Grant Date. |
3. 1 of the total shares of this grant dated February 3, 2012 shall vest on the Grant Date and 40,136 of the remaining shares shall vest as follows: one-sixteenth (1/16) shall vest quarterly over four (4) years following the Grant Date. |
4. ISO/NQ Grants Dated February 5, 2013 combined will vest as follows: one-sixteenth (1/16) of the total shares subject to the option shall vest quarterly over four (4) years following the Grant Date. |
5. ISO/NQ Grants Dated May 21, 2009 combined will vest as follows: 1/4 of the total underlying securities shall vest on the one year anniversary of the Grant Date and 1/16 of the total underlying securities shall vest quarterly following the one year anniversary. |
6. ISO/NQ Grants Dated January 31, 2014 combined will vest as follows: one-sixteenth (1/16) of the total shares subject to the option shall vest quarterly over four (4) years following the Grant Date. |
7. ISO/NQ Grants Dated January 22, 2010 combined will vest as follows: 1/4 of the total underlying securities shall vest on the one year anniversary of the Grant Date and 1/16 of the total underlying securities shall vest quarterly following the one year anniversary. |
8. ISO/NQ Grants Dated January 27, 2009 combined will vest as follows: 1/4 of the total underlying securities shall vest on the one year anniversary of the Grant Date and 1/16 of the total underlying securities shall vest quarterly following the one year anniversary. |
9. ISO/NQ Grants Dated January 20, 2011 combined will vest as follows: 1/4 of the total underlying securities shall vest on the one year anniversary of the Grant Date and 1/16 of the total underlying securities shall vest quarterly following the one year anniversary. |
10. ISO/NQ Grants Dated July 7, 2008 will vest as follows: 1/4 of the total shares subject to the option shall vest on each 12-month anniversary of the Grant Date. |
11. This ISO option Grant Dated August 14, 2007 will vest as follows: 1/4 of the total shares subject to the option shall vest on each 12-month anniversary of the Grant Date. |
12. ISO/NQ Grants Dated January 18, 2008 combined will vest as follows: 1/4 of the underlying securities will vest on each 12-month anniversary of the Grant Date. |
13. 22,956 of the total shares of this grant dated February 3, 2012 shall vest on the Grant Date and 34,864 of the remaining shares shall vest as follows: one-sixteenth (1/16) shall vest quarterly over four (4) years following the Grant Date. |
14. 46,097 of the total shares of this grant dated February 05, 2013 shall vest on the Grant Date and 39,375 of the remaining shares shall vest as follows: one-sixteenth (1/16) shall vest quarterly over four (4) years following the Grant Date. |
15. 30,452 of the total shares of this grant dated January 31, 2014 shall vest on the Grant Date and 26,448 of the remaining shares shall vest as follows: one-sixteenth (1/16) shall vest quarterly over four (4) years following the Grant Date. |
16. 23,723 of the total shares of this grant dated January 22, 2010 shall vest on the Grant Date and 68,750 of the remaining shares shall vest as follows: one-fourth (1/4) shall vest on the one year anniversary of the Grant Date and one-sixteenth (1/16) shall vest quarterly following the one year anniversary. |
17. 100% of the total shares of this Grant Dated March 31, 2010 shall vest on the one year anniversary following the Grant Date. |
Judith R Joice | 04/10/2014 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |