Statement of Changes in Beneficial Ownership (4)
September 11 2020 - 6:22PM
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
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Schreiber Christopher C |
2. Issuer Name and Ticker or Trading Symbol
Akers Biosciences, Inc.
[
AKER
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Exec. Chairman and President |
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(Last)
(First)
(Middle)
C/O TAGLICH BROTHERS INC, 709 NEW YORK AVENUE, SUITE 209 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
9/11/2020 |
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(Street)
HUNTINGTON, NY 11743
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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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 |
| Restricted Stock Unit | (1) | 9/11/2020 | | A | | 263500 | | (2) | (2) | Common Stock | 263500 | $0 | 263500 | D | |
| Explanation of Responses: |
| (1) | Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Akers Biosciences, Inc. (the "Company"). The Company may also elect to settle the vested RSUs for cash at its discretion. |
| (2) | Reporting Person was granted 263,500 RSUs under the Company's 2018 Equity Incentive Plan, as amended (the "Plan"), with fifty percent (50%) of the RSUs to vest on the first anniversary of the date of grant, and the remaining fifty percent (50%) to vest on the second anniversary of the date of grant; provided that the RSUs shall vest immediately upon the occurrence of (i) a change in control, provided that the Reporting Person is employed by or providing services to the Company and its affiliates on the closing date of such change in control, (ii) the Reporting Person's termination of employment or service from the Company and its affiliates by reason of the Reporting Person's death or disability, or (iii) the Reporting Person's termination of employment or service by the Company without cause. |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
Schreiber Christopher C
C/O TAGLICH BROTHERS INC
709 NEW YORK AVENUE, SUITE 209
HUNTINGTON, NY 11743 | X |
| Exec. Chairman and President |
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Signatures
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| /s/ Christopher C. Schreiber | | 9/11/2020 |
| **Signature of Reporting Person | Date |
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