Chris Vazquez - 24 Jul 2023 Form 4 Insider Report for BIODESIX INC (BDSX)

Role
Chief Accounting Officer
Signature
/s/ Robin H. Cowie as Attorney-in-Fact for Chris Vazquez
Issuer symbol
BDSX
Transactions as of
24 Jul 2023
Net transactions value
$0
Form type
4
Filing time
26 Jul 2023, 18:18:36 UTC
Previous filing
06 Jul 2023
Next filing
07 Aug 2023
SEC
View on sec.gov

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 BDSX Stock Options (Right to buy) Disposed to Issuer -16,000 -100% 0 24 Jul 2023 Common Stock 16,000 $20.67 Direct F1, F2, F3
transaction BDSX Stock Options (Right to buy) Award +3,266 3,266 24 Jul 2023 Common Stock 3,266 $1.20 Direct F2, F3, F4
transaction BDSX Stock Options (Right to buy) Award $0 +25,000 $0.000000 25,000 24 Jul 2023 Common Stock 25,000 $1.20 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This option vested 40% on February 23, 2023, and the remaining 60% were scheduled to vest in 36 successive, equal monthly installments measured from February 23, 2023.
F2 On June 23, 2023, the Issuer made an offer (the "Tender Offer") to certain employees to exchange some or all of their outstanding options with an exercise price greater than $10.00 per share (such options properly tendered for exchange, "Surrendered Options") for new options with terms determined in accordance with the terms of the Tender Offer ("Replacement Options"). The Tender Offer closed on July 24, 2023, and the Issuer's board of directors approved the exchange of Surrendered Options for Replacement Options on July 24, 2023.
F3 The Reporting Person elected to participate in the Tender Offer and received 3,266 Replacement Options with an exercise price of $1.20 per share in exchange for 16,000 Surrendered Options with an exercise price of $20.67 per share, after which the Surrendered Options were cancelled.
F4 This Replacement Option vests as follows: 1,579 shares of Common Stock underlying this Replacement Option vest on August 1, 2024, and the remaining 1,687 shares of Common Stock underlying this Replacement Option vest in 31 successive, equal monthly installments beginning on August 1, 2024.
F5 This option vests in a series of 48 successive, equal monthly installments measured from July 24, 2023, subject to the Reporting Person's continuous service through each applicable vesting date.