James Vollins - Mar 22, 2022 Form 4 Insider Report for BIODELIVERY SCIENCES INTERNATIONAL INC (BDSI)

Role
General Counsel, Chief Compliance Officer & Corporate Secretary
Signature
/s/ James Vollins
Stock symbol
BDSI
Transactions as of
Mar 22, 2022
Transactions value $
$0
Form type
4
Date filed
3/22/2022, 05:18 PM
Previous filing
Feb 8, 2022
Next filing
Apr 14, 2023

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 BDSI Restricted Stock Units Disposed to Issuer $0 -91.4K -100% $0.00* 0 Mar 22, 2022 Common Stock 91.4K $0.00 Direct F1, F2
transaction BDSI Stock Options (right to buy) Disposed to Issuer $0 -29.8K -100% $0.00* 0 Mar 22, 2022 Common Stock 29.8K $3.46 Direct F3
transaction BDSI Stock Options (right to buy) Disposed to Issuer $0 -43.3K -100% $0.00* 0 Mar 22, 2022 Common Stock 43.3K $3.90 Direct F3
transaction BDSI Stock Options (right to buy) Disposed to Issuer $0 -269K -100% $0.00* 0 Mar 22, 2022 Common Stock 269K $3.84 Direct F3
transaction BDSI Stock Options (right to buy) Disposed to Issuer $0 -82.5K -100% $0.00* 0 Mar 22, 2022 Common Stock 82.5K $3.03 Direct F3
transaction BDSI Stock Options (right to buy) Disposed to Issuer $0 -282K -100% $0.00* 0 Mar 22, 2022 Common Stock 282K $3.66 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

James Vollins is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents the contingent right to receive one Share.
F2 Each Issuer RSUs that was outstanding immediately prior to the Effective Time, was cancelled and converted into the right to receive for each Share underlying such RSU, without interest and subject to deduction for any required withholding taxes, an amount in cash equal to the Merger Consideration.
F3 Immediately prior to the Effective Time, each Issuer option that was outstanding and then exercisable for a per share exercise price less than the Merger Consideration that would be payable in respect of the Shares underlying such Issuer option (any such Issuer option, an "In-the-Money Cash Out Option") was cancelled and automatically converted into the right to receive for each Share underlying such Issuer option, without interest and subject to deduction for any required withholding taxes, an amount in cash equal to the excess of the Merger Consideration over the per share exercise price of such In-the-Money Cash Out Option. All Issuer options that were not In-the-Money Cash Out Options were cancelled at the Effective Time without payment of any consideration.

Remarks:

General Counsel, Chief Compliance Officer & Corporate Secretary