Sec Form 4 Filing - DHILLON AVTAR S @ Vitality Biopharma, Inc. - 2016-07-15

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
DHILLON AVTAR S
2. Issuer Name and Ticker or Trading Symbol
Vitality Biopharma, Inc. [ STVFD]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
1901 AVENUE OF THE STARS, 2ND FLOOR
3. Date of Earliest Transaction (MM/DD/YY)
07/15/2016
(Street)
LOS ANGELES, CA90067
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
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of 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
Option Award (right to buy) $ 2.1 05/21/2015 A 40,000 ( 1 ) 05/21/2025 common stock 40,000 $ 0 90,000 D
Restricted Stock Unit Award $ 0 ( 2 ) 07/15/2016 A 925,585 ( 3 ) ( 3 ) common stock 925,585 $ 0 1,015,585 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
DHILLON AVTAR S
1901 AVENUE OF THE STARS, 2ND FLOOR
LOS ANGELES, CA90067
X X
Signatures
/s/Avtar Dhillon 08/17/2016
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Of the 40,000 options granted on May 21, 2015, 10,000 vested on each of November 21, 2015 and May 21, 2016 and 100,000 will vest on each of November 21, 2016, and May 21, 2017
( 2 )Each Restricted Stock Unit (RSU) represents the right to receive, at settlement, one share of common stock. This transaction represents the issuance of RSUs, rather than the issuance of shares in common stock, which will occur on their scheduled vesting date
( 3 )Of the 925,585 of the RSUs, 462,793 will vest on March 1, 2017, and 462,792 will vest on March 1, 2018. The RSU will vest immediately upon a corporate change of control, or if the individual is terminated for any reason other than a "For Cause" termination

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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