Stephen G. Dilly - Jul 1, 2022 Form 4 Insider Report for Sierra Oncology, Inc. (SRRA)

Role
CEO and President, Director
Signature
/s/ Mary Christina Thomson, Attorney-In-Fact for Stephen George Dilly
Stock symbol
SRRA
Transactions as of
Jul 1, 2022
Transactions value $
-$275,000
Form type
4
Date filed
7/1/2022, 04:35 PM
Previous filing
Jun 17, 2022
Next filing
Aug 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SRRA Common Stock Disposed to Issuer -$275K -5K -100% $55.00 0 Jul 1, 2022 Direct

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 SRRA Stock Option (right to buy) Disposed to Issuer $0 -520K -100% $0.00* 0 Jul 1, 2022 Common Stock 520K $14.03 Direct F1, F2
transaction SRRA Stock Option (right to buy) Disposed to Issuer $0 -260K -100% $0.00* 0 Jul 1, 2022 Common Stock 260K $12.15 Direct F2, F3
transaction SRRA Stock Option (right to buy) Disposed to Issuer $0 -92K -100% $0.00* 0 Jul 1, 2022 Common Stock 92K $16.73 Direct F2, F4
transaction SRRA Stock Option (right to buy) Disposed to Issuer $0 -165K -100% $0.00* 0 Jul 1, 2022 Common Stock 165K $31.54 Direct F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Stephen G. Dilly is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 The option vested as to 25% of the total shares on June 1, 2021, and then the remaining shares vest in equal monthly installments over the following 36 months, with 100% of the total shares vested on June 1, 2024, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
F2 Pursuant to the terms of the merger agreement between issuer, GlaxoSmithKline plc ("GSK") and a subsidiary of GSK, this option was cancelled on the effective date of the merger in exchange for a cash payment equal to, on a per share basis, the offer price of $55.00 less the exercise price.
F3 On August 12, 2020, the Reporting Person was granted an option to purchase 260,000 shares of common stock. The option vests based on the satisfaction by Issuer of certain performance criteria.
F4 The option vested as to 25% of the total shares subject to the option on March 15, 2022, and then 2.0833% of the shares subject to the option vest monthly thereafter, with 100% of the total shares subject to the option vested on March 15, 2025, subject to Reporting Person's provision of service to the Issuer on each vesting date.
F5 The option vests as to 25% of the total shares subject to the option on March 14, 2023, and then 2.0833% of the shares subject to the option vest monthly thereafter, with 100% of the total shares subject to the option vested on March 14, 2026, subject to Reporting Person's provision of service to the Issuer on each vesting date.