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SIGA TECHNOLOGIES INC — Director's Dealing 2017
Nov 14, 2017
32600_dirs_2017-11-14_4c043425-13eb-4326-963e-890c4dafad89.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: SIGA TECHNOLOGIES INC (SIGA)
CIK: 0001010086
Period of Report: 2017-11-10
Reporting Person: Hruby Dennis E (N/A)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2017-11-10 | Common Stock, par value $.0001 per share | M | 71168 | $3.53 | Acquired | 237579 | Direct |
| 2017-11-10 | Common Stock, par value $.0001 per share | F | 29439 | $4.6 | Disposed | 208140 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2017-11-10 | Stock-Settled Stock Appreciation Rights | $3.53 | M | 337500 | Disposed | 2019-02-03 | Common Stock, par value $.0001 per share (337500) | Direct |
Footnotes
F1: This Form 4 reports the exercise of 337,500 stock-settled appreciation rights ("SSARs") for shares of common stock of SIGA Technologies, Inc. (the "Issuer"). Each SSAR consists of the right to receive an amount (the "Excess Amount"), in common stock, equal to the excess of the fair market value of one share of common stock of the Issuer (subject to a cap on the fair market value at $4.50 per share) on the date of exercise over the exercise price of such SSAR. The number of shares of common stock issued was determined by dividing the total of all exercised SSARs by the fair market value of one share of common stock of the Issuer on the date of exercise.
F2: The Issuer has certain tax withholding obligations associated with the exercise of SSARs and the consequent issuance of common stock of the Issuer. This Form 4 reports the surrender to the Issuer by the Reporting Person of 29,439 shares of common stock otherwise issuable upon the exercise of the SSARs in order to satisfy those withholding tax obligations.
F3: The SSARs vested in equal yearly installments over a period of three (3) years, with the first 1/3 of such SSARs vesting on February 2, 2013, the second 1/3 of such SSARs vesting on February 2, 2014, and the remaining 1/3 of such SSARs vesting on February 2, 2015.