Miyoko Christina Yi - Jan 10, 2023 Form 4 Insider Report for Provention Bio, Inc. (PRVB)

Role
Chief Operations Officer
Signature
/s/ Thierry Chauche, as attorney-in-fact
Stock symbol
PRVB
Transactions as of
Jan 10, 2023
Transactions value $
$0
Form type
4
Date filed
1/11/2023, 08:15 PM
Previous filing
Dec 9, 2022
Next filing
Apr 27, 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 PRVB Stock Option (right to buy) Award $0 +21K +10.45% $0.00 222K Jan 10, 2023 Common Stock, par value $0.0001 21K $5.88 Direct F1, F2, F3
transaction PRVB Stock Option (right to buy) Award $0 +187K $0.00 187K Jan 10, 2023 Common Stock, par value $0.0001 187K $8.93 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As previously reported on a Form 4 filed on December 20, 2021, on December 16, 2021 the Reporting Person was granted a stock option for 300,000 shares of Common Stock, 150,000 of which option shares vest in four equal annual installments commencing on December 16, 2022 and 150,000 of which option shares vest upon completion of certain performance milestones. This amount represents the vesting of 21,000 of the 150,000 performance option shares on January 10, 2023 upon the satisfaction of certain performance milestones.
F2 The stock options were granted pursuant to the Issuer's 2020 Inducement Plan.
F3 Represents the 150,000 time-based option shares referred to in footnote (1) plus the 45,000 vested performance option shares which vested November 22, 2022 plus the 6,000 vested performance option shares which vested December 8, 2022 plus the 21,000 vested performance option shares referred to in footnote (1).
F4 The options will vest and become exercisable as to 25% on the one-year anniversary of the grant date (January 10, 2024) and the remaining 75% will vest and become exercisable monthly over 36 months such that the options are fully vested and exercisable on the four-year anniversary of the grant date (January 10, 2027).
F5 The securities were granted pursuant to the Issuer's Amended and Restated 2017 Equity Incentive Plan.