FORM 4 |
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 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
SEATTLE GENETICS INC /WA [ SGEN ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 06/21/2010 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 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 | ||||||
Common Stock | 06/21/2010 | M(1) | 10,000 | A | $7.26 | 20,405(2) | D | |||
Common Stock | 06/21/2010 | J(2) | 10,000 | D | $0.0000 | 10,405(2) | D | |||
Common Stock | 06/21/2010 | M(1) | 10,000 | A | $5.11 | 20,405(2) | D | |||
Common Stock | 06/21/2010 | J(2) | 10,000 | D | $0.0000 | 10,405(2) | D | |||
Common Stock | 06/21/2010 | M(1) | 10,000 | A | $4.18 | 20,405(2) | D | |||
Common Stock | 06/21/2010 | J(2) | 10,000 | D | $0.0000 | 10,405(2) | D | |||
Common Stock | 06/21/2010 | M(1) | 10,000 | A | $10.2 | 20,405(2) | D | |||
Common Stock | 06/21/2010 | J(2) | 10,000 | D | $0.0000 | 10,405(2) | D | |||
Common Stock | 06/21/2010 | M(1) | 10,000 | A | $10.08 | 20,405(2) | D | |||
Common Stock | 06/21/2010 | J(2) | 10,000 | D | $0.0000 | 10,405(2) | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 Securities Underlying Derivative Security (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: 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 | ||||||||
Non-Qualified Stock Option (right to buy) | $4.18 | 06/21/2010 | M(1) | 10,000 | (3) | 05/19/2016 | Common Stock | 10,000 | $0.0000 | 0 | D | ||||
Non-Qualified Stock Option (right to buy) | $5.11 | 06/21/2010 | M(1) | 10,000 | (4) | 05/13/2015 | Common Stock | 10,000 | $0.0000 | 0 | D | ||||
Non-Qualified Stock Option (right to buy) | $7.26 | 06/21/2010 | M(1) | 10,000 | (5) | 05/17/2014 | Common Stock | 10,000 | $0.0000 | 0 | D | ||||
Non-Qualified Stock Option (right to buy) | $10.08 | 06/21/2010 | M(1) | 10,000 | (6) | 05/16/2018 | Common Stock | 10,000 | $0.0000 | 0 | D | ||||
Non-Qualified Stock Option (right to buy) | $10.2 | 06/21/2010 | M(1) | 10,000 | (7) | 05/25/2017 | Common Stock | 10,000 | $0.0000 | 0 | D |
Explanation of Responses: |
1. This option was granted to Srinivas Akkaraju, a director of the Issuer. Dr. Akkaraju was contractually obligated to exercise this option at the discretion of J.P. Morgan Partners (BHCA), L.P. ("JPM BHCA"), which was contractually entitled to the shares issued upon exercise of the option. JPM BHCA may be deemed to be indirect beneficial owner of the option. Dr. Akkaraju disclaims beneficial ownership of this option and the shares issued upon exercise thereof, and this report shall not be deemed an admission that Dr. Akkaraju is or was the beneficial owner of such securities for purposes of Section 16 of the Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. |
2. See Footnote (1). All of the shares acquired upon exercise of each option (the "Exercise Shares") were transferred to JPM BHCA pursuant to Dr. Akkaraju's contractual obligation. Dr. Akkaraju disclaims beneficial ownership of the Exercise Shares and this report shall not be deemed an admission that Dr. Akkaraju is or was the beneficial owner of the Exercise Shares for purposes of Section 16 of the Exchange Act or for any other purpose. |
3. The option vested in full on May 18, 2007. |
4. The option vested in full on May 12, 2006. |
5. The options vested in full May 16, 2005. |
6. The option vested in full on May 15, 2009. |
7. The option vested in full on May 24, 2008. |
/s/ Eric L. Dobmeier For: Srinivas Akkaraju | 06/23/2010 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* 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). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
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 Number. |