Linda Bain - 01 Jul 2021 Form 4 Insider Report for VBI Vaccines Inc/BC

Role: Director
Signature: /s/ Linda Bain
Issuer symbol: N/A
Transactions as of: 01 Jul 2021
Net transactions value: $0
Form type: 4
Filing time: 07 Jul 2021, 16:55:37 UTC
Previous filing: 10 Jun 2021
Next filing: 21 Jan 2022
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	VBIV	Option (Right to Buy Common Shares)	Award	$0	+250,000		$0.000000	250,000	01 Jul 2021	Common Shares	250,000	$3.43	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reporting person is a participant in the Issuer's Incentive Plan (the "Plan"). The board of directors of the Issuer granted these options on July 1, 2021 (the "Grant Date"). The options were granted pursuant to that certain option agreement entered into by and between the Issuer and the reporting person, dated July 1, 2021 (the "Option Agreement"). The options vest and become exercisable in 36 equal monthly installments beginning on the first day of the month following the Grant Date, subject to the reporting person's employment on the relevant vesting date.
F2	The options expire 10 years from the Grant Date unless terminated sooner in accordance with the Plan or the Option Agreement.

Content

The reporting person is a participant in the Issuer's Incentive Plan (the "Plan"). The board of directors of the Issuer granted these options on July 1, 2021 (the "Grant Date"). The options were granted pursuant to that certain option agreement entered into by and between the Issuer and the reporting person, dated July 1, 2021 (the "Option Agreement"). The options vest and become exercisable in 36 equal monthly installments beginning on the first day of the month following the Grant Date, subject to the reporting person's employment on the relevant vesting date.

The options expire 10 years from the Grant Date unless terminated sooner in accordance with the Plan or the Option Agreement.