John Robert Dillman - Jan 26, 2023 Form 4 Insider Report for VBI Vaccines Inc/BC (VBIV)

Role
Chief Commercial Officer
Signature
/s/ John Robert Dillman
Stock symbol
VBIV
Transactions as of
Jan 26, 2023
Transactions value $
$0
Form type
4
Date filed
1/30/2023, 04:02 PM
Previous filing
Jul 12, 2022
Next filing
Jul 28, 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 +75K $0.00 75K Jan 26, 2023 Common Shares 75K $0.58 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 approved the option grant on January 26, 2023 (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 January 26, 2023 (the "Option Agreement"). 25% of the options vest and become exercisable on the one-year anniversary of the Grant Date, with the remaining 75% of the options vesting and becoming exercisable in 24 equal monthly installments beginning on the first day of the month following the one-year anniversary of 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.