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Filing Details

Accession Number:: 0000899243-18-001565
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2018-01-19 19:05:41
Reporting Period:: 2018-01-02

Accepted Time:: 2018-01-19 19:05:41
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1103021	Biodelivery Sciences International Inc	BDSI	Pharmaceutical Preparations (2834)	352089858

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1301715	A Mark Sirgo	C/O Biodelivery Sciences Intl, Inc., 4131 Parklake Avenue, Suite 225 Raleigh NC 27612		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2018-01-02	250,000	$0.00	1,759,262	No	4	M	Direct
Common Stock	Acquisiton	2018-01-02	795,730	$0.00	2,554,992	No	4	M	Direct
Common Stock	Disposition	2018-01-03	162,509	$2.78	2,392,483	No	4	S	Direct
Common Stock	Disposition	2018-01-04	278,993	$2.85	2,113,490	No	4	S	Direct
Common Stock	Acquisiton	2018-01-17	96,837	$0.00	2,210,327	No	4	M	Direct
Common Stock	Acquisiton	2018-01-17	91,667	$0.00	2,301,994	No	4	M	Direct
Common Stock	Disposition	2018-01-17	108,000	$2.57	2,193,994	No	4	S	Direct
Common Stock	Acquisiton	2018-01-18	266,667	$0.00	2,460,661	No	4	M	Direct
Common Stock	Disposition	2018-01-18	75,200	$2.58	2,385,461	No	4	S	Direct
Common Stock	Disposition	2018-01-19	84,800	$2.60	2,300,661	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	M	Direct
No	4	S	Direct
No	4	S	Direct
No	4	M	Direct
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Restricted Stock Units	Disposition	2018-01-02	250,000	$0.00	250,000	$0.00
Common Stock	Restricted Stock Units	Disposition	2018-01-02	795,730	$0.00	795,730	$0.00
Common Stock	Restricted Stock Units	Disposition	2018-01-17	96,837	$0.00	96,837	$0.00
Common Stock	Restricted Stock Units	Disposition	2018-01-17	91,667	$0.00	91,667	$0.00
Common Stock	Restricted Stock Units	Disposition	2018-01-18	266,667	$0.00	266,667	$0.00

Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
2018-01-02	2018-01-02	No	4	M	Direct
2018-01-02	2018-01-02	No	4	M	Direct
2018-01-17	2018-01-17	No	4	M	Direct
2018-01-17	2018-01-17	No	4	M	Direct
2018-01-18	2018-01-18	No	4	M	Direct

Footnotes

The shares of common stock reported on this Form 4 were acquired by the Reporting Person in connection with the Reporting Person's retirement agreement previously filed with a Current Report on Form 8-K on August 29, 2017 (the "Retirement Agreement"). These Restricted Stock Units ("RSUs") were related to future performance milestones which terminated and in lieu the Reporting Person received a one-time issuance of common stock shares under the Issuer's 2011 Equity Incentive Plan, as amended (the "Plan").
The shares of common stock reported on this Form 4 were acquired by the Reporting Person in connection with the Retirement Agreement. These RSUs were related to previously granted time-based vesting RSUs issued to the Reporting Person pursuant to the Plan that were unvested as of the retirement date, which in lieu thereof, the Reporting Person received a one-time issuance common stock shares under the Plan, the number of which was determined by dividing (A) the net present value of such RSUs by (B) the 30-day VWAP as of the retirement date.
On January 3, 2018, the Reporting Person sold an aggregate of 162,509 shares of the Issuer's Common Stock at a weighted average price of $2.78 per share. The highest sale price for the Common Stock was $2.85 per share and the lowest sale price was $2.70 per share.
On January 4, 2018, the Reporting Person sold an aggregate of 278,993 shares of the Issuer's Common Stock at a weighted average price of $2.85 per share. The highest sale price for the Common Stock was $2.90 per share and the lowest sale price was $2.80 per share.
The shares of common stock were acquired by the Reporting Person as a result of the vesting of 96,837 RSUs granted to the Reporting Person on February 22, 2014 under the Plan. Pursuant to a deferral, these RSUs vested on January 17, 2018.
The shares of common stock were acquired by the Reporting Person as a result of the vesting of 91,667 RSUs granted to the Reporting Person on February 29, 2016 under the Plan. Pursuant to a deferral, these RSUs vested on January 17, 2018.
On January 17, 2018, the Reporting Person sold an aggregate of 108,000 shares of the Issuer's Common Stock at a weighted average price of $2.57 per share. The highest sale price for the Common Stock was $2.65 per share and the lowest sale price was $2.50 per share.
The shares of common stock were acquired by the Reporting Person as a result of the vesting of 266,667 RSUs granted to the Reporting Person on February 23, 2015 under the Plan. Pursuant to a deferral, these RSUs vested on January 18, 2018.
On January 18, 2018, the Reporting Person sold an aggregate of 75,200 shares of the Issuer's Common Stock at a weighted average price of $2.58 per share. The highest sale price for the Common Stock was $2.60 per share and the lowest sale price was $2.50 per share.
On January 19, 2018, the Reporting Person sold an aggregate of 84,800 shares of the Issuer's Common Stock at a weighted average price of $2.60 per share. The highest sale price for the Common Stock was $2.67 per share and the lowest sale price was $2.50 per share.
The shares of common stock were sold under a pre-planned 10b5-1 trading plan and were sold to cover the Reporting Person's tax liability upon the vesting of RSUs.
The Reporting Person undertakes to provide the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in these footnotes.