Sec Form 4 Filing - Vasisht Niraj @ BIODELIVERY SCIENCES INTERNATIONAL INC - 2017-02-22

Insider filing report for Changes in Beneficial Ownership
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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
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Vasisht Niraj
2. Issuer Name and Ticker or Trading Symbol
BIODELIVERY SCIENCES INTERNATIONAL INC [ BDSI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
SVP & Chief Technology Officer
(Last) (First) (Middle)
C/O BIODELIVERY SCIENCES INTL, INC.,, 4131 PARKLAKE AVE., SUITE 225
3. Date of Earliest Transaction (MM/DD/YY)
02/22/2017
(Street)
RALEIGH, NC27612
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/22/2017 M( 1 ) 24,980 A $ 0 ( 1 ) 196,802 D
Common Stock 02/22/2017 S( 2 ) 9,500 D $ 2.01 ( 3 ) 187,302 D
Common Stock 02/23/2017 M( 4 ) 66,667 A $ 0 ( 4 ) 253,969 D
Common Stock 02/23/2017 S( 2 ) 23,500 D $ 1.95 ( 5 ) 230,469 D
Common Stock 03/01/2017 M( 6 ) 50,000 A $ 0 ( 6 ) 280,469 D
Common Stock 03/01/2017 S( 2 ) 9,000 D $ 2.03 ( 7 ) 271,469 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title o f Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 Units $ 0 02/22/2017 M( 1 ) 24,980 02/22/2017 02/22/2017 Common Stock 24,980 $ 0 0 D
Restricted Stock Units $ 0 02/23/2017 M( 4 ) 66,667 02/23/2017 02/23/2018 Common Stock 66,667 $ 0 66,666 D
Restricted Stock Units $ 0 03/01/2017 M( 6 ) 50,000 03/01/2017 03/01/2019 Common Stock 50,000 $ 0 100,000 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Vasisht Niraj
C/O BIODELIVERY SCIENCES INTL, INC.,
4131 PARKLAKE AVE., SUITE 225
RALEIGH, NC27612
SVP & Chief Technology Officer
Signatures
/s/ Niraj Vasisht 03/03/2017
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The shares of common stock were acquired by the Reporting Person as a result of the vesting of the remaining RSUs that had been granted to the Reporting Person on February 22, 2014 under the Issuer's 2011 Equity Incentive Plan, as amended (the "Plan").
( 2 )The shares of common stock were sold upon expiration of a pre-planned 10b5-1 trading plan, and were sold to cover the Reporting Person's additional tax liability upon the vesting of the RSUs.
( 3 )On February 22, 2017, the Reporting Person sold an aggregate of 9,500 shares of the Issuer's Common Stock at a weighted average price of $2.01 per share. The highest sale price for the Common Stock was $2.06 per share and the lowest sale price was $1.96 per share. 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 this footnote.
( 4 )The shares of common stock were acquired by the Reporting Person as a result of the vesting of one-third of the RSUs granted to the Reporting Person on February 23, 2015 under the Plan. The remainder of the RSUs under this grant will vest on February 23, 2018.
( 5 )On February 23, 2017, the Reporting Person sold an aggregate of 23,500 shares of the Issuer's Common Stock at a weighted average price of $1.95 per share. The highest sale price for the Common Stock was $2.05 per share and the lowest sale price was $1.90 per share. 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 this footnote.
( 6 )The shares of common stock were acquired by the Reporting Person as a result of the vesting of one-third of the RSUs granted to the Reporting Person on February 29, 2016 under the Plan. The remainder of the RSUs under this grant will vest in equal installments on March 1, 2018 and March 1, 2019.
( 7 )On March 1, 2017, the Reporting Person sold an aggregate of 9,000 shares of the Issuer's Common Stock at a weighted average price of $2.03 per share. The highest sale price for the Common Stock was $2.05 per share and the lowest sale price was $2.00 per share. 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 this footnote.

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