Cascadian Therapeutics (ONTY) Form 4 Cascadian Therapeutics / JULIA MARIE EASTLAND ownership change

SEC Form 4

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^*

EASTLAND JULIA MARIE

(Last) (First) (Middle)

C/O CASCADIAN THERAPEUTICS, INC.

2601 FOURTH AVE., SUITE 500

(Street)

SEATTLE WA 98121

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Cascadian Therapeutics, Inc. [ CASC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
CFO & VP Corp. Dev.

3. Date of Earliest Transaction (Month/Day/Year)
01/11/2017

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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
Stock Option (right to buy)	$4.64	01/11/2017		A		51,200		(1)	01/11/2027	Common Stock	51,200	$0.00	51,200	D
Restricted Share Unit (RSU)	(2)	01/11/2017		A		11,300		(3)	01/11/2021	Common Stock	11,300	$0.00	11,300	D

Explanation of Responses:

1. The option vests and is exercisable at the rate of 1/4th of the total shares on January 11, 2018 and then 1/48th of the total shares vest and are exercisable monthly thereafter, with 100% vested and exercisable on January 11, 2021, subject to the holder's continued employment with the issuer on each vesting date.

2. Approximately 67% of each RSU represents a contingent right to receive approximately 0.67 share of the issuer's Common Stock upon vesting and approximately 33% represents a contingent right to receive cash upon vesting, which cash will be used to facilitate the holder's satisfaction of U.S. federal tax obligations in connection with the vesting of the RSUs.

3. Twenty-five percent of the shares underlying the RSU vest on each of January 11, 2018, January 11, 2019, January 11, 2020 and January 11, 2021, subject to the holder's continued employment with the issuer on each vesting date.

Remarks:

	/s/ Julia M. Eastland	01/13/2017
	** 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).
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