John A. Orwin - 14 Dec 2023 Form 4 Insider Report for Seagen Inc.

Role
Director
Signature
/s/ Jennifer Prosba, Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
14 Dec 2023
Net transactions value
-$6,641,687
Form type
4
Filing time
15 Dec 2023, 18:10:54 UTC
Previous filing
09 Nov 2023
Next filing
05 Jan 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SGEN Common Stock Disposed to Issuer $6,641,687 -29,003 -100% $229.00 0 14 Dec 2023 Direct F1, F2

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 SGEN Stock Options (Right to Buy) Disposed to Issuer -12,500 -100% 0 14 Dec 2023 Common stock 12,500 $42.97 Direct F1, F3
transaction SGEN Stock Options (Right to Buy) Disposed to Issuer -9,260 -100% 0 14 Dec 2023 Common stock 9,260 $39.94 Direct F1, F3
transaction SGEN Stock Options (Right to Buy) Disposed to Issuer -9,260 -100% 0 14 Dec 2023 Common stock 9,260 $38.82 Direct F1, F3
transaction SGEN Stock Options (Right to Buy) Disposed to Issuer -9,260 -100% 0 14 Dec 2023 Common stock 9,260 $66.60 Direct F1, F3
transaction SGEN Stock Options (Right to Buy) Disposed to Issuer -9,260 -100% 0 14 Dec 2023 Common stock 9,260 $56.77 Direct F1, F3
transaction SGEN Stock Options (Right to Buy) Disposed to Issuer -7,038 -100% 0 14 Dec 2023 Common stock 7,038 $64.38 Direct F1, F3
transaction SGEN Stock Options (Right to Buy) Disposed to Issuer -3,171 -100% 0 14 Dec 2023 Common stock 3,171 $160.33 Direct F1, F3
transaction SGEN Stock Options (Right to Buy) Disposed to Issuer -3,462 -100% 0 14 Dec 2023 Common stock 3,462 $147.50 Direct F1, F3
transaction SGEN Stock Options (Right to Buy) Disposed to Issuer -3,676 -100% 0 14 Dec 2023 Common stock 3,676 $135.63 Direct F1, F3
transaction SGEN Restricted Stock Units Disposed to Issuer -2,044 -100% 0 14 Dec 2023 Common stock 2,044 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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

Explanation of Responses:

Id Content
F1 Reflects the disposition of shares of common stock, par value $0.001 per share ("Common Stock"), of Seagen Inc. ("Issuer"), or of equity awards in respect of such Common Stock, as applicable, in connection with the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated as of March 12, 2023 (the "Merger Agreement"), by and among the Issuer, Pfizer Inc. ("Parent") and Aris Merger Sub, Inc. ("Merger Sub"), a wholly owned subsidiary of Parent, pursuant to which, at 12:01 a.m. EST on December 14, 2023, the effective time of the Merger (the "Effective Time"), Merger Sub merged with and into the Issuer, with the Issuer surviving as a subsidiary of Parent (the "Merger").
F2 Pursuant to the Merger Agreement, at the Effective Time, each issued and outstanding share of Common Stock (other than certain excluded shares described in the Merger Agreement) was cancelled and converted automatically into the right to receive cash in an amount equal to $229.00 per share of Common Stock (the "Merger Consideration").
F3 Pursuant to the Merger Agreement, each outstanding option, whether or not then vested, was cancelled in exchange for the right to receive an amount in cash equal to the product of (i) the excess, if any, of the Merger Consideration over the per-share exercise price of such option, multiplied by (ii) the number of shares of Common Stock then subject to such option.
F4 Pursuant to the Merger Agreement, at the Effective Time, each outstanding restricted stock unit granted after March 12, 2023 that was unvested as of immediately prior to the Effective Time (each, a "Post-Signing Company RSU") was cancelled and converted into the right to receive a Parent cash-based award subject to service-based vesting requirements with respect to an amount in cash equal to the product of (i) the Merger Consideration, multiplied by (ii) the number of shares of Common Stock then subject to such Post-Signing Company RSU.