Ex-CFO clears Aptose (APTOF) holdings in Hammi Pharmaceuticals buyout
Rhea-AI Filing Summary
Aptose Biosciences Inc. former SVP and CFO Fletcher Payne reported dispositions of all his equity interests in connection with the company’s acquisition by a subsidiary of Hammi Pharmaceuticals Co. Inc. A trust associated with Payne disposed of 22 common shares, and he disposed of 222 directly held common shares, each at approximately $1.72 per share, converted from C$2.41 using an exchange rate of C$1.4 = US$1.00. He also surrendered 1,000,000 stock options with a $0.8479 exercise price, 200,000 options at $0.66, and 55,000 options at $2.00 per share, all as dispositions to the issuer. Following these transactions, the filing shows zero common shares and zero options remaining in Payne’s reported holdings.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 244 shares
Net Sell
5 txns
Insider
Payne Fletcher
Role
Insider
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Employee Stock Option (Right to Buy) | 55,000 | $0.00 | $0.00 |
| Disposition | Employee Stock Option (Right to Buy) | 200,000 | $0.00 | $0.00 |
| Disposition | Common Stock (Option) | 1,000,000 | $0.00 | $0.00 |
| Disposition | Common Shares | 222 | $1.72 | $381.84 |
| Disposition | Common Shares | 22 | $1.72 | $37.84 |
Holdings After Transaction:
Employee Stock Option (Right to Buy) — 0 shares (Direct);
Common Stock (Option) — 0 shares (Direct);
Common Shares — 0 shares (Direct);
Common Shares — 0 shares (Indirect, Fletcher Payne 2019 Trust)
Footnotes (3)
- F1. Disposed of pursuant to a board, shareholder and court-approved business arrangement agreement between the Issuer and Hammi Pharmaceuticals Co. Inc. whereby a subsidiary of Hammi acquired all outstanding shares of the Issuer at a price of C$2.41 per share.
- F2. Converted from Canadian price of C$2.41 per share using an exchange rate of C$1.4 = US$1.00.
- F3. Options vest 50% on the first anniversary of the grant date; remaining options vest 1/3 annually beginning on the second anniversary of the grant date.
Key Figures
Common shares disposed (trust): 22 common shares at $1.72/share
Common shares disposed (direct): 222 common shares at $1.72/share
Options disposed at $0.8479: 1,000,000 options, $0.8479 exercise price
+4 more
7 metrics
Common shares disposed (trust)
22 common shares at $1.72/share
Indirect holding via Fletcher Payne 2019 Trust, disposed 2026-06-30
Common shares disposed (direct)
222 common shares at $1.72/share
Direct holding, disposed 2026-06-30
Options disposed at $0.8479
1,000,000 options, $0.8479 exercise price
Common Stock (Option), disposition to issuer, expires 2032-06-26
Options disposed at $0.66
200,000 options, $0.66 exercise price
Employee Stock Option, disposition to issuer, expires 2033-01-19
Options disposed at $2.00
55,000 options, $2.00 exercise price
Employee Stock Option, disposition to issuer, expires 2034-02-05
Acquisition share price
C$2.41 per share
Hammi Pharmaceuticals subsidiary acquisition price for Aptose shares
FX rate used
C$1.4 = US$1.00
Converts C$2.41 to approximately $1.72 per share
Key Terms
business arrangement agreement, Disposition to issuer, Employee Stock Option (Right to Buy), exchange rate, +1 more
5 terms
business arrangement agreement regulatory
"Disposed of pursuant to a board, shareholder and court-approved business arrangement agreement between the Issuer and Hammi Pharmaceuticals Co. Inc."
Disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
Employee Stock Option (Right to Buy) financial
"security_title": "Employee Stock Option (Right to Buy)""
exchange rate financial
"Converted from Canadian price of C$2.41 per share using an exchange rate of C$1.4 = US$1.00."
Exchange rate is the price of one currency expressed in another—for example, how many euros you receive for one US dollar. It matters to investors because changes in that price alter the reported profits, costs and value of assets for companies and portfolios that operate or hold money across borders; think of it like switching measurement units, where the same item can look bigger or smaller depending on the unit used.
vest financial
"Options vest 50% on the first anniversary of the grant date; remaining options vest 1/3 annually beginning on the second anniversary of the grant date."
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
FAQ
What did former Aptose (APTOF) executive Fletcher Payne report in this Form 4?
Fletcher Payne reported disposing of all his Aptose equity interests. The filing shows issuer dispositions of common shares and multiple stock option grants, leaving him and his related trust with zero reported Aptose shares or options after the Hammi Pharmaceuticals acquisition.
What stock options on Aptose (APTOF) did Fletcher Payne give up?
Payne disposed of three option positions: 1,000,000 options with a $0.8479 exercise price, 200,000 options at $0.66, and 55,000 options at $2.00 per share. All were surrendered to the issuer as part of the Hammi Pharmaceuticals deal.
How was the Aptose (APTOF) acquisition price by Hammi Pharmaceuticals set in this filing?
The filing notes that a Hammi Pharmaceuticals subsidiary acquired all outstanding Aptose shares at C$2.41 per share. It also discloses an exchange rate of C$1.4 = US$1.00, which translates that consideration to approximately $1.72 per share in U.S. dollars.
Does Fletcher Payne retain any Aptose (APTOF) holdings after these transactions?
According to the Form 4, Payne and his related trust hold zero Aptose securities after the transactions. The total shares following each reported disposition are listed as 0.0000, indicating no remaining common shares or related stock options in this filing.
AI-generated analysis. How Rhea-AI works. Not financial advice.
