| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | MDVL | Common Stock | Options Exercise | $0 | +680 | +80.47% | $0.00 | 1.53K | Sep 1, 2023 | Direct | F1, F2 |
| transaction | MDVL | Common Stock | Sale | -$1.73K | -303 | -19.87% | $5.70 | 1.22K | Sep 28, 2023 | Direct | F3, F4 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | MDVL | Restricted Stock Units | Options Exercise | $0 | -680 | -50.04% | $0.00 | 679 | Sep 1, 2023 | Common Stock | 680 | Direct | F5, F6, F7 |
Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.
Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
| Id | Content |
|---|---|
| F1 | On July 31, 2023, the Issuer effected a 1-for-50 reverse stock split of the issued and outstanding shares of its common stock. Upon effectiveness of the reverse stock split, every 50 shares of common stock were automatically converted into one share of common stock. The securities reported on this Form 4 have been adjusted to reflect the reverse stock split. |
| F2 | This amount includes 480 net shares acquired by the reporting person upon the vesting of 680 restricted stock units on September 1, 2022. 200 shares were withheld by the Issuer in payment of the reporting person's tax liability. The disposition of the restricted stock units and the acquisition of the shares of common stock that occurred upon vesting of the restricted stock units were not previously reported by the reporting person. |
| F3 | The reporting person sold these shares pursuant to an arrangement that is intended to satisfy the affirmative defense conditions of Rule 10b5-1 solely to cover tax withholding obligations in connection with the vesting of restricted stock units. |
| F4 | These shares were sold in multiple transactions at prices ranging from $5.69 to $5.98, inclusive. The prices reported in this Form 4 reflect the weighted-average sale price. The reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range. The amount reflected has been rounded to four decimal points. |
| F5 | Each restricted stock unit represents a contingent right to receive one share of common stock of the Issuer. |
| F6 | On September 20, 2021, the reporting person was granted 2,039 restricted stock units under the Issuer's 2020 Equity Incentive Plan, with one third (1/3rd) of the units scheduled to vest on each of the one (1), two (2), and three (3) year anniversaries of September 1, 2021, the vesting commencement date. |
| F7 | This amount excludes 680 shares disposed of by the reporting person upon the vesting of restricted stock units on September 1, 2022. The disposition of the restricted stock units and the acquisition of the shares of common stock that occurred upon vesting of the restricted stock units were not previously reported by the reporting person. |