Timothy Williams - Feb 28, 2022 Form 4 Insider Report for Vanda Pharmaceuticals Inc. (VNDA)

Signature
/s/ Timothy Williams
Stock symbol
VNDA
Transactions as of
Feb 28, 2022
Transactions value $
-$133,779
Form type
4
Date filed
3/2/2022, 08:29 PM
Previous filing
Aug 17, 2021
Next filing
Aug 17, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VNDA Common Stock Award $0 +32.7K +39.3% $0.00 116K Feb 28, 2022 Direct F1
transaction VNDA Common Stock Sale -$134K -12.1K -10.4% $11.09 104K Mar 2, 2022 Direct F2, F3

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 VNDA Stock Option (Right to Buy) Award $0 +77.5K $0.00 77.5K Feb 28, 2022 Common Stock 77.5K $11.36 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of common stock underlying a time-based restricted stock unit award ("RSU"). The RSU vests in four (4) equal annual installments with the first annual vest taking place on March 1, 2023, provided the Reporting Person remains continuously employed by the Issuer through each annual vesting date. Vested shares will be delivered on the First Permissible Trading Day (as defined in the RSU Agreement) that occurs on or after the day when the RSUs vest.
F2 Represents shares of the Issuer's common stock sold to satisfy tax obligations relating to the acquisition of shares of the Issuer's common stock in connection with the settlement of the vested portion of RSUs. Such sale was executed pursuant to an irrevocable election made by the Reporting Person during an open trading window under a program approved by the Compensation Committee of the Issuer's Board of Directors.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.03 to $11.19, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (3) to this Form 4.
F4 The option vests with respect to 25% of the underlying shares on February 28, 2023, with the balance vesting in equal monthly installments over the next 36 months of continuous service thereafter, provided the Reporting Person provides continuous service to the Issuer through the applicable vesting date.