John Robert Dillman - Jul 7, 2022 Form 4 Insider Report for VBI Vaccines Inc/BC (VBIV)

Role: Chief Commercial Officer
Signature: /s/ John Dillman
Stock symbol: VBIV
Transactions as of: Jul 7, 2022
Transactions value $: $0
Form type: 4
Date filed: 7/12/2022, 06:20 PM
Next filing: Jan 30, 2023

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	+100K		$0.00	100K	Jul 7, 2022	Common Shares	100K	$0.86	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 was granted these options on July 7, 2022 (the "Grant Date") as part of the reporting person's employment agreement with the Company. The options vest as follows: 25% of the optioned shares shall vest on the one-year anniversary of the Grant Date (the "First Vesting Date") and the remaining 75% optioned shares vesting in substantially equal installments on each of the next 24 monthly anniversaries of the First Vesting Date, subject to the reporting person's continued employment with or service to the Company through the applicable vesting date.
F2	The options expire 10 years from the Grant Date unless terminated sooner in accordance with the VBI Vaccines Incentive Plan or the reporting person's stock option award agreement.

Content

The reporting person was granted these options on July 7, 2022 (the "Grant Date") as part of the reporting person's employment agreement with the Company. The options vest as follows: 25% of the optioned shares shall vest on the one-year anniversary of the Grant Date (the "First Vesting Date") and the remaining 75% optioned shares vesting in substantially equal installments on each of the next 24 monthly anniversaries of the First Vesting Date, subject to the reporting person's continued employment with or service to the Company through the applicable vesting date.

The options expire 10 years from the Grant Date unless terminated sooner in accordance with the VBI Vaccines Incentive Plan or the reporting person's stock option award agreement.