Neil F. McFarlane - 10 Oct 2023 Form 4 Insider Report for ZEVRA THERAPEUTICS, INC. (ZVRA)

Role
President and CEO, Director
Signature
/s/ Timothy J. Sangiovanni, Attorney-in-Fact for Neil F. McFarlane
Issuer symbol
ZVRA
Transactions as of
10 Oct 2023
Net transactions value
$0
Form type
4
Filing time
11 Oct 2023, 16:33:22 UTC
Previous filing
19 May 2023
Next filing
02 Feb 2024
SEC
View on sec.gov

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 ZVRA Stock Option (right to buy) Award $0 +600,000 $0.000000 600,000 10 Oct 2023 Common Stock 600,000 $4.75 Direct F1, F2
transaction ZVRA Restricted Stock Unit Award $0 +200,000 $0.000000 200,000 10 Oct 2023 Common Stock 200,000 $0.000000 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The exercise price is equal to the closing price of the Issuer's common stock on the Nasdaq Global Select Market on the date of grant, October 10, 2023.
F2 Grant to the Reporting Person of a stock option under the Issuer's 2023 Employment Inducement Award Plan (the "Plan"). 25% of the shares will vest on October 10, 2024 and the remaining 75% of the shares will vest in equal annual installments thereafter, provided that at the relevant vesting dates such optionee's employment relationship has not been terminated as defined in the Plan. All shares underlying the option will vest in full and become immediately exercisable upon a change of control of the Issuer or if the Reporting Person is terminated without cause or resigns for good reason. The option expires ten years after the date of grant.
F3 Grant to the Reporting Person of restricted stock units ("RSU") under the Issuer's 2023 Employment Inducement Award Plan (the "Plan"). 25% of the shares will vest on October 10, 2024 and the remaining 75% of the shares will vest in equal annual installments thereafter, provided that at the relevant vesting dates such optionee's employment relationship has not been terminated as defined in the Plan. All shares will vest in full and become immediately exercisable upon a change of control of the Issuer or if the Reporting Person is terminated without cause or resigns for good reason.