Form 4: Sorrento Therapeutics, Inc. (SRNE), Smith Robin L, transaction 09/03/2021

Summary

A Form 4 for Robin L. Smith, a director of Sorrento Therapeutics, Inc. [SRNE], reporting two option exercises on September 3, 2021. Smith exercised stock options for 75,000 shares at $3.95 and for 100,000 shares at $4.89, bringing directly owned common stock to 235,000 shares. Footnotes state the first option vested 1/12 at a time starting January 16, 2020 and the second starting July 15, 2020. The form reports 0 options remaining under each grant and lists no sales. Henry Ji, Ph.D., signed as Attorney-in-Fact on 09/03/2021.

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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 * Smith Robin L (Last) (First) (Middle) C/O SORRENTO THERAPEUTICS, INC. 4955 DIRECTORS PLACE (Street) SAN DIEGO CA 92121 (City) (State) (Zip) | Smith Robin L | (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) X Director 10% Owner Officer (give title below) Other (specify below) | X | Director | 10% Owner | Officer (give title below) | Other (specify below)
3. Date of Earliest Transaction
 (Month/Day/Year) 09/03/2021
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
Common Stock | 09/03/2021 | M | 75,000 | A | $ 3.95 | 135,000 | D
Common Stock | 09/03/2021 | M | 100,000 | A | $ 4.89 | 235,000 | D
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 | $ 3.95 | 09/03/2021 | M | 75,000 | (1) | 12/16/2029 | Common Stock | 75,000 | $ 0.00 | 0 | D
Stock Options | $ 4.89 | 09/03/2021 | M | 100,000 | (2) | 06/15/2030 | Common Stock | 100,000 | $ 0.00 | 0 | D
Explanation of Responses:
1. 1/12 of the original number of shares subject to this option vested and became exercisable on January 16, 2020 and 1/12 of the original number of shares subject to the option vested following each one month of service thereafter.
2. 1/12 of the original number of shares subject to this option vested and became exercisable on July 15, 2020 and 1/12 of the original number of shares subject to the option vested following each one month of service thereafter.
Remarks:
/s/ Henry Ji, Ph.D., as Attorney-in-Fact | 09/03/2021
** 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.

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Original

www.sec.gov