Francisco Leon - 27 Apr 2023 Form 4 Insider Report for Provention Bio, Inc.

Role
Chief Scientific Officer
Signature
/s/ Thierry Chauche, as attorney-in-fact
Issuer symbol
N/A
Transactions as of
27 Apr 2023
Net transactions value
$0
Form type
4
Filing time
27 Apr 2023, 18:01:09 UTC
Previous filing
14 Apr 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRVB Common Stock Disposition pursuant to a tender of shares in a change of control transaction -73,000 -100% 0 27 Apr 2023 Direct F1
transaction PRVB Common Stock Disposition pursuant to a tender of shares in a change of control transaction -1,500,000 -100% 0 27 Apr 2023 By Immunosoma LLC F1
transaction PRVB Common Stock Disposition pursuant to a tender of shares in a change of control transaction -1,000,000 -100% 0 27 Apr 2023 By Trust F1, F4

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 Option to Purchase Common Stock Disposed to Issuer -242,103 -100% 0 27 Apr 2023 Common Stock 242,103 $2.50 Direct F2, F3
transaction PRVB Option to Purchase Common Stock Disposed to Issuer -400,000 -100% 0 27 Apr 2023 Common Stock 400,000 $12.54 Direct F2, F3
transaction PRVB Option to Purchase Common Stock Disposed to Issuer -137,750 -100% 0 27 Apr 2023 Common Stock 137,750 $12.62 Direct F2, F3
transaction PRVB Option to Purchase Common Stock Disposed to Issuer -139,500 -100% 0 27 Apr 2023 Common Stock 139,500 $6.80 Direct F2, F3
transaction PRVB Option to Purchase Common Stock Disposed to Issuer -145,000 -100% 0 27 Apr 2023 Common Stock 145,000 $4.39 Direct F2, F3
transaction PRVB Option to Purchase Common Stock Disposed to Issuer -210,000 -100% 0 27 Apr 2023 Common Stock 210,000 $8.93 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Francisco Leon is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 This Form 4 reports securities disposed of pursuant to the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated as of March 12, 2023, by and among the Issuer, Sanofi S.A. ("Parent"), and Zest Acquisition Sub, Inc., an indirect wholly owned subsidiary of Parent ("Purchaser"), pursuant to which Purchaser completed a tender offer for shares of common stock of the Issuer ("Company Common Stock") and thereafter merged with and into the Issuer (the "Merger") effective as of April 27, 2023 (the "Effective Time"). At the Effective Time, each issued and outstanding share of Company Common Stock was cancelled and converted into the right to receive $25.00 in cash (the "Offer Price") without interest and subject to applicable withholding of taxes.
F2 Pursuant to the actions of the board of directors of the Issuer and in accordance with the terms of the Merger Agreement, at the Effective Time, each option to purchase shares of Company Common Stock granted under an Issuer equity plan (each, a "Company Stock Option") that was outstanding and unvested immediately prior to the Effective Time vested in full.
F3 As of the Effective Time, each Company Stock Option that was outstanding and vested immediately prior to the Effective Time was cancelled, and, in exchange therefor, the holder of such cancelled Company Stock Option became entitled to receive in consideration of the cancellation of such Company Stock Option, an amount in cash (without interest and less applicable tax withholdings) equal to the product of (x) the total number of shares of Company Common Stock subject to such Company Stock Option immediately prior to the Effective Time multiplied by (y) the excess, if any, of the Offer Price over the applicable exercise price per share of Company Common Stock under such Company Stock Option.
F4 The Reporting Person gifted the shares to a trust for the benefit of members of the Reporting Person's family on December 23, 2021.