Form 4 for ADMA ADMA BIOLOGICS, INC.

Accepted 2022-03-09 00:00:00 ET · period of report 2022-03-07 · accession 0001140361-22-008671 · 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
D	2022-03-09	2022-03-07	ADMA	Grossman Adam S	Pres, CEO, Dir	A - Grant	$0.00	+300.0K	2.41M	+14%	$0
D	2022-03-09	2022-03-07	ADMA	Grossman Adam S	Pres, CEO, Dir	A - Grant	$0.00	+600.0K	600.0K	New	$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	2022-03-07	A	A	300,000	$0.00	2,410,583	D	—	—	(F1) These shares represent restricted stock units ("RSUs") that will vest quarterly on the date of grant, over four years, subject to the reporting person's continued service as of the applicable vesting date. (F4) (continue from footnote 3) subject to the reporting person's continued employment on the applicable vesting date; (iv) 162,893 unvested RSUs granted on February 25, 2021, of which 137,362 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 25,531 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; (F3) (continue from footnote 2) (iii) 742,500 Milestone-Based RSUs granted on September 29, 2021, 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 and that will be settled into common stock upon vesting, (F5) (continue from footnote 4) (v) 50,000 unvested 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 (vi) 247,690 shares of common stock owned by the reporting person, which reflects shares previously purchased in the open market and the prior net settlement upon vesting of previously granted RSUs after the withholding of shares to cover applicable taxes. (F2) Includes (i) 300,000 RSUs granted on March 7, 2022 and reported on this Form 4, subject to vesting as set forth in footnote (1); (ii) 907,500 Time-Based RSUs granted on September 29, 2021, 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 and that will be settled into common stock upon vesting, subject to the reporting person's continued employment on the applicable vesting date;
2	Derivative	Employee Stock Option (right to buy)	2022-03-07	A	A	600,000	$0.00	600,000	D	$1.67 · — to 2032-03-07	600,000 Common Stock	(F8) The options vest over four years with 25% of the shares of common stock underlying the options vesting on the one year anniversary of the date of grant and the remaining 75% of such shares vesting monthly in equal installments over the next three years, becoming fully vested on March 7, 2026.