Jillian B. Thomsen - Nov 15, 2021 Form 4 Insider Report for NEKTAR THERAPEUTICS (NKTR)

Signature
Mark A. Wilson
Stock symbol
NKTR
Transactions as of
Nov 15, 2021
Transactions value $
-$88,712
Form type
4
Date filed
11/17/2021, 05:08 PM
Previous filing
Oct 14, 2021
Next filing
Dec 20, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NKTR Common Stock Award $0 +14.9K +10.81% $0.00 153K Nov 15, 2021 Direct F1, F2, F3
transaction NKTR Common Stock Sale -$88.7K -6.74K -4.41% $13.16* 146K Nov 16, 2021 Direct F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Common stock was acquired pursuant to a grant of restricted stock units ("RSU"). Each RSU awarded represents a contingent right to receive, upon vesting of the unit, one share of Common Stock of the Issuer. These RSUs were granted on December 12, 2019 under the Issuer's Amended and Restated 2017 Performance Incentive Plan (the "2017 Plan") and at the time of their grant were subject to both performance-based and time-based vesting requirements. The time-based vesting is on a quarterly pro-rata basis over a period of three (3) years from the date of grant.
F2 The Organization and Compensation Committee of the Board of Directors of the Issuer determined that the performance-based vesting requirement for these RSUs was satisfied on September 15, 2021. Pursuant to the terms of the 2017 Plan, these RSUs vested on the next quarterly vesting date (November 15, 2021) following the date that the performance-based vesting requirement was satisfied.
F3 This number includes 988 shares held by the reporting person in the Issuer's 401(K) plan and 5,690 shares held by the reporting person in the Issuer's ESPP plan. The acquisition of these shares under both plans is exempt under Rule 16b-3(c).
F4 Represents the number of shares required to be sold by the reporting person to cover tax withholding obligations in connection with the vesting of the RSUs held by the reporting person. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person.
F5 This transaction was executed in multiple trades at prices ranging from $12.84 to $13.52. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and the prices at which the transactions were effected upon request to the SEC staff, the Issuer, or a security holder of the Issuer.