0000882104-18-000071.txt : 20180612 0000882104-18-000071.hdr.sgml : 20180612 20180612163140 ACCESSION NUMBER: 0000882104-18-000071 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: Stone Christopher Lewis CENTRAL INDEX KEY: 0001453373 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-19756 FILM NUMBER: 18894816 MAIL ADDRESS: STREET 1: 932 SOUTHWOOD BLVD. CITY: INCLINE VILLAGE STATE: NV ZIP: 89451 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_152883548318052.xml FORM 4 X0306 4 2018-06-08 0 0000882104 PDL BIOPHARMA, INC. PDLI 0001453373 Stone Christopher Lewis C/O PDL BIOPHARMA, INC. 932 SOUTHWOOD BLVD. INCLINE VILLAGE NV 89451 0 1 0 0 VP, Gen. Counsel & Secretary Stock Option (right to buy) 2.94 2018-06-08 4 A 0 700500 0 A 2027-08-28 Common stock 700500.0 700500 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 issuer'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 issuer'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 Christopher Lewis Stone 2018-06-12