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Biotech / Medical : Hollis Eden Pharmaceuticals Inc. (HEPH)
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To: BDR who wrote (16)2/20/1998 8:20:00 AM
From: BDR   of 138
 
STOCK STUFF

From the SEC filings on EDGAR I see that the President, Peizer, has been granted some stock options at $5/share.

" Mr. Peizer was granted options to purchase up to 2,400,000 shares
of Hollis-Eden Common Stock on February 5, 1997. None of these
options are currently exercisable. These options vest in annual
one-sixth increments commencing on February 5, 1998. See
"PROPOSED MANAGEMENT OF THE SURVIVING CORPORATION - Employment Agreements."

At the recent price, he just made about $5 million.

Other interesting info:

"In addition, Mr. Richard B. Hollis and Dr.
Patrick T. Prendergast, the owners of approximately 71% of the outstanding
Hollis-Eden Common Stock, agreed with Hollis-Eden not to sell more than an
aggregate of 1,000,000 shares of Surviving Corporation Common Stock to be
received by them as a result of the Merger for the two-year period
commencing upon the Effective Time of the Merger. "

Effective time? November 5, 1996 (the last trading day prior to the public
announcement of the execution of the Merger Agreement) is mentioned.

Based on the 13G filed 2/12 it would appear that about 6.7 million shares have been authorized. 9.59 million registered per the S 4/A as of 2/97. Not sure which is correct. Someone more familiar with these types of documents help me out.
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