0000882104-18-000070.txt : 20180612
0000882104-18-000070.hdr.sgml : 20180612
20180612163115
ACCESSION NUMBER: 0000882104-18-000070
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20180608
FILED AS OF DATE: 20180612
DATE AS OF CHANGE: 20180612
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: GARCIA PETER S
CENTRAL INDEX KEY: 0001188956
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-19756
FILM NUMBER: 18894806
MAIL ADDRESS:
STREET 1: C/O BIOTIME INC
STREET 2: 1301 HARBOR BAY PARKWAY
CITY: ALAMEDA
STATE: CA
ZIP: 94502
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: PDL BIOPHARMA, INC.
CENTRAL INDEX KEY: 0000882104
STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
IRS NUMBER: 943023969
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 932 SOUTHWOOD BLVD
CITY: INCLINE VILLAGE
STATE: NV
ZIP: 89451
BUSINESS PHONE: 775-832-8500
MAIL ADDRESS:
STREET 1: 932 SOUTHWOOD BLVD
CITY: INCLINE VILLAGE
STATE: NV
ZIP: 89451
FORMER COMPANY:
FORMER CONFORMED NAME: PROTEIN DESIGN LABS INC/DE
DATE OF NAME CHANGE: 19930328
4
1
wf-form4_152883545770159.xml
FORM 4
X0306
4
2018-06-08
0
0000882104
PDL BIOPHARMA, INC.
PDLI
0001188956
GARCIA PETER S
C/O PDL BIOPHARMA, INC.
932 SOUTHWOOD BLVD.
INCLINE VILLAGE
NV
89451
0
1
0
0
Vice President, CFO
Stock Option (right to buy)
2.94
2018-06-08
4
A
0
694900
0
A
2027-08-28
Common stock
694900.0
694900
D
The stock options were approved by the compensation committee of the issuer's board of directors effective August 29, 2017, subject to stockholder approval of an amendment to the issuer's equity plan pursuant to which the stock option was granted. The issuer's stockholders approved the amendment on June 8, 2018.
The stock options will vest as follows: (a) 25% of the shares subject to the option shall vest on August 28, 2018; (b) 25% of the shares subject to the option shall vest on a monthly basis pro rata over the thirty-six (36) months following August 28, 2018; (c) 25% of the shares subject to the option shall vest upon the price of the Company's Common Stock closing above $3.91 for twenty (20) consecutive trading days; and (d) 25% of the shares subject to the option shall vest upon the price of the Company's Common Stock closing above $4.41 for twenty (20) consecutive trading days, provided that the recipient's continuous service has not terminated prior to the applicable vesting date, subject to earlier vesting upon a change in control and certain qualifying terminations of employement provided in the severance agreement between the issuer and the recipient.
/s/ Nathan N. Kryszak, Attorney-in-Fact for Peter S. Garcia
2018-06-12