Form 4: Sorrento Therapeutics, Inc. (SRNE), Shao Jiong, transaction 06/15/2020

Summary

A Form 4 for Jiong Shao, Chief Financial Officer of Sorrento Therapeutics, Inc. [SRNE], reporting stock options acquired on June 15, 2020. The options cover 120,000 shares of common stock at an exercise price of $4.89 and expire 06/15/2030. According to the footnote, 1/4th of the original shares vests on June 15, 2021 and 1/48th after each one month period of service after that date, subject to continued service. No common stock transactions are listed. Henry Ji, Ph.D., signed as Attorney-in-Fact on 06/15/2020.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

SEC Form 4

FORM 4 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 | OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5 | OMB APPROVAL | OMB Number: 3235-0287 Estimated average burden hours per response: 0.5 | OMB Number: | 3235-0287 | Estimated average burden | hours per response: | 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person * Shao Jiong (Last) (First) (Middle) C/O SORRENTO THERAPEUTICS, INC. 4955 DIRECTORS PLACE (Street) SAN DIEGO CA 92121 (City) (State) (Zip) | Shao Jiong | (Last) | (First) | (Middle) | C/O SORRENTO THERAPEUTICS, INC. | 4955 DIRECTORS PLACE | SAN DIEGO | CA | 92121 | (City) | (State) | (Zip) | 2. Issuer Name and Ticker or Trading Symbol Sorrento Therapeutics, Inc. [ SRNE ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Chief Financial Officer | Director | 10% Owner | X | Officer (give title below) | Other (specify below) | Chief Financial Officer
3. Date of Earliest Transaction
 (Month/Day/Year) 06/15/2020
4. If Amendment, Date of Original Filed
 (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person | X | Form filed by One Reporting Person | Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr.
 3) | 2. Transaction Date
 (Month/Day/Year) | 2A. Deemed Execution Date, if any
 (Month/Day/Year) | 3. Transaction Code (Instr.
 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr.
 3, 4 and 5) | 5.
 Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr.
 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr.
 4) | 7. Nature of Indirect Beneficial Ownership (Instr.
 4)
Code | V | Amount | (A) or (D) | Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr.
 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date
 (Month/Day/Year) | 3A. Deemed Execution Date, if any
 (Month/Day/Year) | 4. Transaction Code (Instr.
 8) | 5.
 Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr.
 3, 4 and 5) | 6. Date Exercisable and Expiration Date
 (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr.
 3 and 4) | 8. Price of Derivative Security (Instr.
 5) | 9.
 Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr.
 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr.
 4) | 11. Nature of Indirect Beneficial Ownership (Instr.
 4)
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares
Stock Options | $ 4.89 | 06/15/2020 | A | 120,000 | (1) | 06/15/2030 | Common Stock | 120,000 | $ 0 | 120,000 | D
Explanation of Responses:
1. 1/4th of the original number of shares subject to the option shall vest on June 15, 2021, and 1/48th of the original number of shares subject to the option shall vest following each one month period of service after June 15, 2021, subject to the Reporting Person's continued service to the Issuer through each such vesting date.
Remarks:
/s/ Henry Ji, Ph.D., as Attorney-in-Fact | 06/15/2020
** Signature of Reporting Person | Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
 4

 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

File and source

File

SEC_SRNE_4_filed2020-06-15_0000850261-20-000047.xml

Size

15,650 bytes

SHA-256

13abc9dd3d37b7eb00caf6042ae0429296476b4ab919f7e58bcb322d972e97d3

Our copy

SEC_SRNE_4_filed2020-06-15_0000850261-20-000047.xml

Original

www.sec.gov