Henry Ji - 15 Dec 2022 Form 4 Insider Report for Sorrento Therapeutics, Inc.

Role
President, CEO and Chairman of the Board of Directors, Director
Signature
/s/ Henry Ji, Ph.D.
Issuer symbol
N/A
Transactions as of
15 Dec 2022
Net transactions value
$0
Form type
4
Filing time
16 Dec 2022, 19:10:21 UTC
Previous filing
23 Dec 2022
Next filing
17 Jan 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SRNEQ Common Stock Award $0 +1,500,000 +31% $0.000000 6,265,805 15 Dec 2022 Direct F1, F2
holding SRNEQ Common Stock 2,271,693 15 Dec 2022 See Footnote F3
holding SRNEQ Common Stock 40,000 15 Dec 2022 By spouse
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The grant to the Reporting Person of a restricted stock unit award for 1,500,000 shares of the Issuer's common stock (the "RSU Award") was approved by the compensation committee of the board of directors of the Issuer on September 1, 2022 and was granted to the Reporting Person on September 2, 2022. The RSU Award was conditioned upon and subject to the Issuer's stockholders approving an amendment to the Issuer's 2019 Stock Incentive Plan to increase the number of shares authorized for issuance thereunder (the "Plan Amendment"). The Issuer's stockholders approved the Plan Amendment on December 15, 2022.
F2 The reported securities are shares subject to the RSU Award. 1/4th of the shares subject to the RSU Award shall vest on September 2, 2023 and 1/4th of the shares subject to the RSU Award shall vest on each anniversary thereafter.
F3 Shares are held in family trusts of which the Reporting Person is a co-trustee with his spouse.

Remarks:

President, CEO and Chairman of the Board of Directors