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Biotech / Medical : Cell Therapeutics (CTIC) -- Ignore unavailable to you. Want to Upgrade?

To: quidditch who wrote (708)	7/6/2005 1:25:24 PM
From: Icebrg	Respond to of 946

It was shares although not yet available to him. They were granted in February, when the Co. believed they were heading straight into an approval of Xyotax. The shares were restricted though and had not yet vested. From the February filing (the grant). The reporting person was granted a restricted stock award 50% of which shall vest 45 days following the achievement of a specific performance event determined by the Company's board of directors (the "Initial Vesting Date"), provided that the reporting person remains employed by the Company on the Initial Vesting Date. The remaining 50% shall vest on the date that the Company receives approval for a new drug application for Xyotax from the Food and Drug Administration (the "Second Vesting Date"); provided that the reporting person is still employed by the Company on the Second Vesting Date and that the Second Vesting Date occurs prior to January 1, 2007. If the specified performance event, and therefore the Initial Vesting Date, does not occur, then 100% of the restricted stock shall become vested on the Second Vesting Date; provided that the reporting person is still employed by the Company on the Second Vesting Date and that the Second Vesting Date occurs prior to January 1, 2007.