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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 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 (Month/Day/Year) |
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) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Director Stock Options | $ 3.46 (4) | 01/03/2011 | A | 15,000 | (5) | 01/02/2021 | Common Stock | 15,000 | (6) | 15,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
SUMNER WILLIAM C/O ACURA PHARMACEUTICALS, INC. 616 N. NORTH COURT PALATINE, IL 60067 |
X |
/s/ William Sumner | 01/03/2011 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Shares of common stock of the Issuer withheld by the Issuer for payment of par value of $.01 for each share exchanged for a Restricted Stock Unit. |
(2) | Price is closing price of Issuer's coomon stock on December 31, 2010. |
(3) | Effective January 1, 2011, 25,000 Restricted Stock Units were exchanged for shares of common stock. Amount of securities include 75,000 remaining Restricted Stock Units held by Reporting Person. Absent a change of control, shares of common stock will be distributed in exchange for Restricted Stock Units (after payment of $.01 par value per share) in three equal installments on January 1st of each of 2012, 2013 and 2014. |
(4) | Exercise price is closing price of Issuer's common stock on January 3, 2011. |
(5) | Twenty-five percent (25%) of shares underlying options vest on, and are exercisable commencing, each of March 31, 2011, June 30, 2011, September 30, 2011 and December 31, 2011. |
(6) | Not Applicable. |
Remarks: All share numbers give effect to a 1 for 10 reverse stock split effected Decemer 5, 2007. |