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.

3101 WESTERN AVE., SUITE 600

(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 & CBO

3. Date of Earliest Transaction (Month/Day/Year)
01/11/2018

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
Common Stock	01/11/2018		M		2,825	A	$0.00	6,160	D
Common Stock	01/11/2018		F		923(1)	D	$3.92(1)	5,237	D

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
Restricted Share Unit (RSU)	(2)	01/11/2018		M			2,825	(3)	01/11/2027	Common Stock	2,825	$0.00	8,475	D

Explanation of Responses:

1. 923 shares of the restricted share unit ("RSU") grant, which represent approximately 33% of the shares underlying the RSU grant that vested on January 11, 2018, were not issued to the reporting holder; instead the reporting holder received an amount in cash from the issuer equal to the value of such shares based on the closing price of the issuer's Common Stock on January 11, 2018 to facilitate such holder's satisfaction of U.S. federal income tax obligations in connection with the vesting of the RSUs, which transaction does not represent a sale by the reporting person.

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	01/16/2018
	** 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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