PDL BioPharma's President just picked up 240,200 shares

Dominique Monnet, PDL BioPharma's President, recently acquired 240,200 shares of the company. The buys took place at $0.00 per share (and therefore, likely the result of option or restricted share grants), on September 12, 2017. Monnet now owns 240,200 shares of the company. Monnet operates out of Incline Village, NV. Some additional info was provided as follows:

The restricted stock will vest in three equal installments on each of December 12, 2018, 2019 and 2020, provided that the recipient's continuous service has not terminated prior to the applicable vesting date, subject to earlier vesting upon a change in control and certain qualifying terminations of employment provided in the severance agreement between the issuer and the recipient. The stock options will ve st as follows: (a) 25% of the shares subject to the option shall vest on September 10, 2018; (b) 25% of the shares subject to the option shall vest on a monthly basis pro rata over the thirty-six (36) months following September 10, 2018; (c) 25% of the shares subject to the option shall vest upon a 33% increase in the price of the issuer's common stock above the exercise price of the option for 20 consecutive trading days; and(d) 25% of the shares subject to the option shall vest upon a 50% increase in the price of the issuer's common stock above the exercise price of the option for 20 consecutive trading days, provided that the recipient's continuous service has not terminated prior to the applicable vesting date, subject to earlier vesting upon a change in control and certain qualifying terminations of employment provided in the severance agreement between the issuer and the recipient.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

PDL BioPharma's President just declared 0 ownership of the company. - Sept. 13, 2017
Securities to be offered to employees in employee benefit plans - Sept. 12, 2017
PDL: Cook Williams Communications, Inc - Sept. 11, 2017
Current report, items 7.01 and 9.01 - Sept. 11, 2017

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