Form 4: Vaxart, Inc. (VXRT), Cummings James F., transaction 03/28/2022

Summary

James F. Cummings, Chief Medical Officer of Vaxart, Inc., reports on this Form 4 a grant on 03/28/2022 of 43,750 shares of common stock upon vesting of restricted stock units, bringing direct ownership to 43,750 shares. The same date the reporting person acquired a stock option (right to buy) for 262,500 shares with a $5.09 exercise price and a 03/27/2032 expiration. The footnotes provide for the unit shares to vest twenty five percent on each anniversary of the grant date and for the option to vest 25% on March 28, 2023 and fully by March 28, 2026. Andrei Floroiu signed as Attorney-in-Fact for James Cummings on 03/30/2022.

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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 * Cummings James F. (Last) (First) (Middle) C/O VAXART, INC. 170 HARBOR WAY, SUITE 300 (Street) SOUTH SAN FRANCISCO CA 94080 (City) (State) (Zip) | Cummings James F. | (Last) | (First) | (Middle) | C/O VAXART, INC. | 170 HARBOR WAY, SUITE 300 | SOUTH SAN FRANCISCO | CA | 94080 | (City) | (State) | (Zip) | 2. Issuer Name and Ticker or Trading Symbol Vaxart, Inc. [ VXRT ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Chief Medical Officer | Director | 10% Owner | X | Officer (give title below) | Other (specify below) | Chief Medical Officer
3. Date of Earliest Transaction
 (Month/Day/Year) 03/28/2022
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 | 03/28/2022 | A | 43,750 (1) | A | $ 0 | 43,750 | 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 Option (right to buy) | $ 5.09 | 03/28/2022 | A | 262,500 | (2) | 03/27/2032 | Common Stock | 262,500 | $ 0 | 262,500 | D
Explanation of Responses:
1. Grant of shares upon vesting of restricted stock units. Twenty five percent of the shares underlying the award shall vest on each anniversary of the grant date, so that the restricted stock units would be fully vested on the fourth anniversary of the grant date.
2. The shares subject to this stock option shall vest as to 25% of the shares underlying the grant on March 28, 2023, the first anniversary of the date that the grant was approved by the board of directors, and thereafter in 36 equal monthly installments such that the stock option shall be fully vested on March 28, 2026.
/s/ Andrei Floroiu, Attorney-in-Fact for James Cummings | 03/30/2022
** 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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