Craig A. Johnson - Aug 22, 2022 Form 4 Insider Report for LA JOLLA PHARMACEUTICAL CO (LJPC)

Role
Director
Signature
/s/ Michael Hearne, by power of attorney for Craig A. Johnson
Stock symbol
LJPC
Transactions as of
Aug 22, 2022
Transactions value $
-$74,760
Form type
4
Date filed
8/24/2022, 08:17 PM
Previous filing
Jul 12, 2022
Next filing
Dec 20, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LJPC Common Stock Disposed to Issuer -$74.8K -12K -100% $6.23 0 Aug 22, 2022 Direct F1

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 LJPC Stock Option (Right to Buy) Disposed to Issuer -18K -100% 0 Aug 22, 2022 Common Stock 18K $6.00 Direct F2
transaction LJPC Stock Option (Right to Buy) Disposed to Issuer -19K -100% 0 Aug 22, 2022 Common Stock 19K $10.84 Direct F2
transaction LJPC Stock Option (Right to Buy) Disposed to Issuer -10K -100% 0 Aug 22, 2022 Common Stock 10K $19.69 Direct F2
transaction LJPC Stock Option (Right to Buy) Disposed to Issuer -10K -100% 0 Aug 22, 2022 Common Stock 10K $28.24 Direct F2
transaction LJPC Stock Option (Right to Buy) Disposed to Issuer -10K -100% 0 Aug 22, 2022 Common Stock 10K $19.19 Direct F2
transaction LJPC Stock Option (Right to Buy) Disposed to Issuer -10K -100% 0 Aug 22, 2022 Common Stock 10K $28.10 Direct F2
transaction LJPC Stock Option (Right to Buy) Disposed to Issuer -12K -100% 0 Aug 22, 2022 Common Stock 12K $5.99 Direct F2
transaction LJPC Stock Option (Right to Buy) Disposed to Issuer -30K -100% 0 Aug 22, 2022 Common Stock 30K $5.25 Direct F2
transaction LJPC Stock Option (Right to Buy) Disposed to Issuer -30K -100% 0 Aug 22, 2022 Common Stock 30K $4.53 Direct F2
transaction LJPC Stock Option (Right to Buy) Disposed to Issuer -30K -100% 0 Aug 22, 2022 Common Stock 30K $4.81 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Craig A. Johnson is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 This Form 4 reports securities disposed of pursuant to the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated as of July 10, 2022, by and among the Issuer, Innoviva, Inc., a Delaware corporation ("Parent"), and Innoviva Acquisition Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of the Parent ("Purchaser"), to which Purchaser completed a tender offer for shares of common stock of the Issuer, $0.0001 par value per share (each, a "Share"), and thereafter merged with and into the Issuer (the "Merger") effective as of August 22, 2022 (the "Effective Time"). At the Effective Time, each issued and outstanding Share was converted into the right to receive $6.23 per Share, in cash, without interest (the "Offer Price") and subject to any withholding of taxes, upon the terms and subject to the conditions of the Merger Agreement. From and after the Effective Time, all Shares were no longer outstanding and were automatically cancelled.
F2 Pursuant to the terms of the Merger Agreement, immediately prior to the Effective Time, each option to purchase Shares granted under an Issuer equity plan (each, an "Issuer Stock Option") that was outstanding and unexercised was cancelled and converted into the right to receive a cash payment equal to the excess, if any, of the Offer Price over the exercise price payable per Share with respect to such Issuer Stock Option.