Form 4 for ADMA ADMA BIOLOGICS, INC.

Accepted 2021-10-01 00:00:00 ET · period of report 2021-09-29 · accession 0001140361-21-033354 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
M	2021-10-01	2021-09-29	ADMA	Grossman Adam S	Pres, CEO, Dir	A - Grant	$0.00	+1.65M	2.04M	+426%	$0

Purchase Sale Sale after option exercise All abbreviations

Every reported transaction

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Common Stock	2021-09-29	A	A	907,500	$0.00	1,295,116	D	—	—	(F1) These shares represent restricted stock units ("RSUs") that will be settled into common stock upon vesting. Subject to the reporting person's continued employment on the applicable vesting date, these RSUs are subject to time based vesting conditions (the "Time-Based RSUs"), of which (x) 50% of the Time Based RSUs shall vest on December 31, 2022 ("Initial Vesting Date") and (y) 50% of the Time-Based RSUs shall vest in eight (8) equal quarterly installments over a period of two years following the Initial Vesting Date, becoming fully vested on December 31, 2024.
2	Common	Common Stock	2021-09-29	A	A	742,500	$0.00	2,037,616	D	—	—	(F2) These shares represent RSUs that will be settled into common stock upon vesting. Subject to the reporting person's continued employment on the applicable vesting date, these RSUs are subject to milestone-based vesting conditions (the "Milestone-Based RSUs") established by the Board of Directors, upon the recommendation of the Compensation Committee of the Board of Directors, of which (x) 22.2% of the Milestone-Based RSUs shall become vested upon the completion of a debt refinancing which adds non-dilutive capital to the Company's balance sheet before or during the calendar year ending December 31, 2022, (y) 33.3% of the Milestone-Based RSUs shall become vested upon the achievement of a 15% gross margin on BIVIGAM without intermediates by the end of the fourth quarter of 2022, and (z) 44.5% of the Milestone-Based RSUs shall become vested upon the achievement of $35 million in quarterly revenues in or before the fourth quarter of 2022. (F4) (continued from footnote 3) (iv) 75,000 RSUs granted on February 28, 2020, which vest quarterly on each anniversary of the date of grant, over four years, subject to the reporting person's continued service as of the applicable vesting date and will be settled into common stock upon vesting; and (v) 91,169 shares of common stock owned by the reporting person, which reflects the prior net settlement upon vesting of previously granted RSUs after the withholding of shares to cover applicable taxes. (F3) Includes (i) 907,500 Time-Based RSUs granted on September 29, 2021 and reported on this Form 4, subject to vesting as set forth in footnote (1) and that will be settled into common stock upon vesting; (ii) 742,500 Milestone-Based RSUs granted on September 29, 2021 and reported on this Form 4, subject to vesting as set forth in footnote (2) and that will be settled into common stock upon vesting; (iii) 221,447 RSUs granted on February 25, 2021, of which 183,150 RSUs will vest quarterly on each anniversary of the date of grant, over four years, subject to the reporting person's continued service as of the applicable vesting date and 38,297 RSUs are subject to cliff vesting with one-third of such RSUs vesting on each anniversary of the date of grant over three years, subject to the reporting person's continued service as of the applicable vesting date, and in each case will be settled into common stock upon vesting;