Amended Statement of Changes in Beneficial Ownership (4/a)
October 19 2020 - 4:16PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
|
OMB APPROVAL
OMB Number:
3235-0287
Estimated average burden hours per response...
0.5
|
|
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
|
|
1. Name and Address of Reporting Person
*
Truitt Joseph |
2. Issuer Name and Ticker or Trading Symbol
BIOSPECIFICS TECHNOLOGIES CORP
[
BSTC
]
|
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Executive Officer |
(Last)
(First)
(Middle)
C/O BIOSPECIFICS TECHNOLOGIES CORP., 2 RIGHTER PKWY, DELAWARE CORP. CENTER II |
3. Date of Earliest Transaction
(MM/DD/YYYY)
5/28/2020 |
(Street)
WILMINGTON, DE 19803
(City)
(State)
(Zip)
|
4. If Amendment, Date Original Filed
(MM/DD/YYYY)
5/29/2020 |
6. Individual or Joint/Group Filing
(Check Applicable Line)
_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. Trans. Date
|
2A. Deemed Execution Date, if any
|
3. Trans. 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 Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
|
1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. 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 | 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 of Derivative Security: 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) | $63.72 | 5/28/2020 | | A (1) | | 100000 (2) | | (3) | 5/28/2030 | Common Stock | 100000 | $0.00 | 100000 | D | |
Explanation of Responses: |
(1) | The stock options were granted under the BioSpecifics Technologies Corp. 2019 Omnibus Incentive Compensation Plan (the "Plan"). |
(2) | As previously reported on a Form 4 filed on May 29, 2020 by the reporting person, the reporting person reported acquiring stock options to purchase 130,000 shares of common stock. However, BioSpecifics Technologies Corp. (the "Company") subsequently determined that stock options to purchase 30,000 shares of common stock under the Plan were not validly granted pursuant to the Plan because they exceeded the Plan limit on the number of stock options that may be granted to any newly-hired employee participant in any one calendar year. Accordingly, the attempted grant of these excess stock options was ineffective, and they were never granted to the reporting person. The reporting person is filing this amendment to report the correct amount of stock options acquired. |
(3) | The stock options vest in four equal installments over the four-year period following the date of grant. |
Reporting Owners
|
Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Truitt Joseph C/O BIOSPECIFICS TECHNOLOGIES CORP. 2 RIGHTER PKWY, DELAWARE CORP. CENTER II WILMINGTON, DE 19803 | X |
| Chief Executive Officer |
|
Signatures
|
/s/ Joseph E. Truitt by Carl A. Valenstein, attorney- in-fact | | 10/19/2020 |
**Signature of Reporting Person | Date |
BioSpecifics Technologies (NASDAQ:BSTC)
Historical Stock Chart
From Jun 2024 to Jul 2024
BioSpecifics Technologies (NASDAQ:BSTC)
Historical Stock Chart
From Jul 2023 to Jul 2024