Table of Contents
Notes to Consolidated Financial Statements (Continued)
20. Subsequent Events (unaudited) (Continued)
defined in the agreement. Upon the effectiveness of Dr. Kaspar's employment agreement, all of his unvested shares granted pursuant to the restricted stock purchase agreement vested in full.
As a result of the vesting in full of the remainder of this award in January 2016 the Company anticipates incurring a material charge to research and development expense in the first quarter of
Amended and Restated Certificate of Incorporation
In January 2016, the Company's board of directors approved an amendment to the Company's certificate of incorporation such that the total authorized capital
stock of the Company will consist of 30,000,000 shares of common stock, par value $0.0001 per share, 3,278,938 shares of Class B-1 preferred stock, $0.0001 par value per share,
326,557 shares of Class B-2 preferred stock, $0.0001 par value per share, 2,365,020 shares of Class C preferred stock, $0.0001 par value per share, 3,105,000 shares of
Class D preferred stock, $0.0001 par value per share and 1,000,000 shares of preferred stock, $0.0001 par value per share.
Additionally, the Company will effect a stock split whereby each outstanding share common stock and Class B-1, B-2, C and D preferred stock will be converted into
1.38 shares of common stock and Class B-1, B-2, C and D preferred stock, respectively. The stock split will be effected prior to the effectiveness of this Registration Statement.
Stock Option Grants
Subsequent to September 30, 2015, the Company has issued options to purchase 378,565 shares of its common stock at a weighted average exercise
price of $18.33 to its employees.