SoYoung Kwon - Jun 7, 2022 Form 4 Insider Report for Aptevo Therapeutics Inc. (APVO)

Role
SVP, GC and Corporate Affairs
Signature
SoYoung Kwon
Stock symbol
APVO
Transactions as of
Jun 7, 2022
Transactions value $
$0
Form type
4
Date filed
6/7/2022, 05:24 PM
Previous filing
Jun 3, 2022
Next filing
Aug 10, 2022

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 APVO Restricted Stock Unit Award $0 +11K $0.00 11K Jun 7, 2022 Common Stock 11K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As previously disclosed in a Form 4 filed on March 4, 2022, the reporting person was granted 11,000 options on such date. At the time of the grant, there were insufficient shares available for issuance under the Aptevo Therapeutics Inc. 2018 Stock Incentive Plan to make the full grant of equity award to the reporting person that was approved for issuance by Aptevo Therapeutics Inc.'s Compensation Committee. As such, the equity award was split into two separate grants with the first portion of 11,000 options granted on March 4, 2022 and the second portion of 11,000 restricted stock units granted on June 7, 2022, following stockholder approval of an increase in shares available for issuance under the Aptevo Therapeutics Inc. 2018 Stock Incentive Plan (as Amended and Restated).
F2 Restricted Stock Units ("RSUs") convert into common stock, $0.001 par value per share, of the Issuer on a one-for-one basis.
F3 The RSU vests in three approximately equal annual installments beginning on March 3, 2023.