Glenn Sblendorio - Dec 20, 2022 Form 4 Insider Report for IVERIC bio, Inc. (ISEE)

Role
Chief Executive Officer, Director
Signature
/s/ Todd D.C. Anderman, as Attorney-in-Fact for Glenn P. Sblendorio
Stock symbol
ISEE
Transactions as of
Dec 20, 2022
Transactions value $
$0
Form type
4
Date filed
12/22/2022, 05:56 PM
Previous filing
Dec 20, 2022
Next filing
Dec 29, 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 ISEE Stock Option (right to buy) Award $0 +300K $0.00 300K Dec 20, 2022 Common Stock 300K $22.57 Direct F1
transaction ISEE Restricted Stock Units Award $0 +150K $0.00 150K Dec 20, 2022 Common Stock 150K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Subject to continued employment with the Registrant and the other terms and conditions under the Registrant's 2013 Stock Incentive Plan, the stock option award will vest as follows: (1) no shares underlying the option shall vest unless, for a period of twenty consecutive trading days, the average closing sale price of the Registrant's common stock is equal to or exceeds 125% of the exercise price per share of such option (the "Performance Condition"), (2) subject to satisfaction of the Performance Condition, the option shall vest with respect to 25% of the shares subject to the option on the first anniversary of the grant date and with respect to the remaining shares in equal monthly installments through the fourth anniversary of the grant date, and (3) such stock option shall be subject to "double-trigger" acceleration of vesting upon termination of employment following a change in control of the Registrant.
F2 Each restricted stock unit represents the contingent right to receive one share of common stock upon vesting of the unit.
F3 Subject to continued employment with the Registrant and the other terms and conditions under the Registrant's 2013 Stock Incentive Plan, the award of restricted stock units will vest with respect to 25% of the shares subject to the award in annual installments (on January 2, 2024, January 2, 2025, January 2, 2026 and January 2, 2027).