Scott Plesha - Mar 22, 2022 Form 4 Insider Report for BIODELIVERY SCIENCES INTERNATIONAL INC (BDSI)

Role
President and Chief Commercial Officer
Signature
/s/ Scott Plesha
Stock symbol
BDSI
Transactions as of
Mar 22, 2022
Transactions value $
$0
Form type
4
Date filed
3/22/2022, 05:14 PM
Previous filing
Jan 31, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BDSI Common Stock Other $0 -345K -100% $0.00* 0 Mar 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 BDSI Restricted Stock Units Disposed to Issuer $0 -119K -100% $0.00* 0 Mar 22, 2022 Common Stock 119K $0.00 Direct F2, F3
transaction BDSI Stock Options (right to buy) Disposed to Issuer $0 -245K -100% $0.00* 0 Mar 22, 2022 Common Stock 245K $3.90 Direct F4
transaction BDSI Stock Options (right to buy) Disposed to Issuer $0 -348K -100% $0.00* 0 Mar 22, 2022 Common Stock 348K $3.90 Direct F4
transaction BDSI Stock Options (right to buy) Disposed to Issuer $0 -370K -100% $0.00* 0 Mar 22, 2022 Common Stock 370K $3.66 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Scott Plesha 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 February 14, 2022, by and among the Issuer, Collegium Pharmaceutical, Inc., ("Parent"), and Bristol Acquisition Company Inc., a wholly owned subsidiary of Parent ("Merger Sub"), pursuant to which Merger Sub completed a tender offer for shares of common stock of Issuer, $0.001 par value per share (each, a "Share") and thereafter merged with and into the Issuer (the "Merger") effective as of March 22, 2022 (the "Effective Time"). At the Effective Time, each issued and outstanding Share was cancelled and converted into the right to receive $5.60 in cash (the "Merger Consideration") without interest and subject to applicable withholding taxes.
F2 Each restricted stock unit ("RSU") represents the contingent right to receive one Share.
F3 Each Issuer RSUs that was outstanding immediately prior to the Effective Time, was cancelled and converted into the right to receive for each Share underlying such RSU, without interest and subject to deduction for any required withholding taxes, an amount in cash equal to the Merger Consideration.
F4 Immediately prior to the Effective Time, each Issuer option that was outstanding and then exercisable for a per share exercise price less than the Merger Consideration that would be payable in respect of the Shares underlying such Issuer option (any such Issuer option, an "In-the-Money Cash Out Option") was cancelled and automatically converted into the right to receive for each Share underlying such Issuer option, without interest and subject to deduction for any required withholding taxes, an amount in cash equal to the excess of the Merger Consideration over the per share exercise price of such In-the-Money Cash Out Option. All Issuer options that were not In-the-Money Cash Out Options were cancelled at the Effective Time without payment of any consideration.

Remarks:

President and Chief Commercial Officer