| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | AYLA | Common Stock | Disposed to Issuer | -265K | -100% | 0 | Jan 19, 2023 | Direct | F1, F2 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | AYLA | Stock Option (right to buy) | Disposed to Issuer | -47.3K | -100% | 0 | Jan 19, 2023 | Common Stock | 47.3K | $15.00 | Direct | F1, F2, F3 | ||
| transaction | AYLA | Stock Option (right to buy) | Disposed to Issuer | -76.7K | -100% | 0 | Jan 19, 2023 | Common Stock | 76.7K | $11.26 | Direct | F1, F2, F3 | ||
| transaction | AYLA | Stock Option (right to buy) | Disposed to Issuer | -128K | -100% | 0 | Jan 19, 2023 | Common Stock | 128K | $9.11 | Direct | F1, F2, F3 |
Roni Mamluk is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.
| Id | Content |
|---|---|
| F1 | This Form 4 reports securities disposed of pursuant to the terms of that certain Agreement and Plan of Merger, dated October 18, 2022, by and among Ayala Pharmaceuticals, Inc. ("Ayala"), Advaxis, Inc. ("Advaxis"), and DOE Merger Sub, Inc., a wholly owned subsidiary of Advaxis (the "Merger Agreement"). The acquisition is more fully described in Ayala's definitive proxy statement filed with the Securities and Exchange Commission on December 12, 2022. (Continued below.) |
| F2 | (Continued from above.) In accordance with the terms of the Merger Agreement, each share of Ayala's common stock (the "Ayala Common Stock"), including restricted stock, was cancelled and converted into the right to receive 0.1874 shares (the "Exchange Ratio") of Advaxis common stock (the "Advaxis Common Stock"). All Ayala restricted stock awards that were outstanding immediately prior to the effective time of the merger were substituted and converted automatically into the right to receive a number of shares of restricted Advaxis Common Stock equal to the Exchange Ratio. In accordance with a letter agreement between the reporting person and Ayala, each share of restricted stock held by the reporting person vested in full. |
| F3 | Each outstanding option to purchase Ayala Common Stock (each, an "Ayala Option") was substituted and converted automatically into an option (each, an "Advaxis Replacement Option") to purchase the number of shares of Advaxis Common Stock equal to the product obtained by multiplying (a) the number of shares of Ayala Common Stock subject such Ayala Option immediately prior to the effective time of the merger, by (b) the Exchange Ratio, with any fractional shares rounded down to the nearest whole share, with each such Advaxis Replacement Option to have an exercise price per share of Advaxis Common Stock equal to (x) the per share exercise price for the shares of Ayala Common Stock subject to the corresponding Ayala Option immediately prior to the effective time of the merger, divided by (y) the Exchange Ratio, rounded up to the nearest whole cent,. In accordance with a letter agreement between the reporting person and Ayala, each option held by the reporting person vested in full. |