Benedict Osorio - Dec 16, 2021 Form 3 Insider Report for Provention Bio, Inc. (PRVB)

Role
Chief Quality Officer
Signature
/s/ Thierry Chauche, as attorney-in-fact
Stock symbol
PRVB
Transactions as of
Dec 16, 2021
Transactions value $
$0
Form type
3
Date filed
12/23/2021, 07:24 PM
Next filing
Jan 20, 2022

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
holding PRVB Stock Option (right to buy) Dec 16, 2021 Common Stock 52K $12.89 Direct F1
holding PRVB Stock Option (right to buy) Dec 16, 2021 Common Stock 70K $6.80 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On August 17, 2020, the Reporting Person was granted a stock option for 40,000 shares of Common Stock which vests in four equal annual installments commencing on August 17, 2021. The Reporting Person was also granted 60,000 stock options with performance-based vesting triggers, 12,000 of which have vested upon the satisfaction of certain performance milestones. The vesting of the remaining performance option shares will be reported, if and when vested, consistent with the applicable reporting requirements. The stock options were granted pursuant to the Issuer's 2017 Equity Incentive Plan.
F2 On May 12, 2021, the Reporting Person was granted a stock option for 70,000 shares of Common Stock which will vest as follows: 25% will vest and become exercisable on May 12, 2022 and 75% will vest and become exercisable monthly over 36 months such that these options will be fully vested and exercisable on May 12, 2025. The stock options were granted pursuant to the Issuer's 2017 Equity Incentive Plan.

Remarks:

Exhibit 24.1 - Power of Attorney