Adelman Michael Form 3 Aptevo Therapeutics / Michael Adelman ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:	3235-0104
Estimated average burden
hours per response:	0.5

1. Name and Address of Reporting Person^*

Adelman Michael

(Last) (First) (Middle)

2401 4TH AVENUE, SUITE 1050

(Street)

SEATTLE WA 98121

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/01/2018

3. Issuer Name and Ticker or Trading Symbol
Aptevo Therapeutics Inc. [ APVO ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
SVP, Commercial Operations

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock(1)	65,503	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)(1)	(2)	03/10/2021	Common Stock	75,655	2.47	D
Employee Stock Option (Right to Buy)(1)	(3)	03/09/2022	Common Stock	44,596	2.55	D
Employee Stock Option (Right to Buy)(1)	(4)	02/28/2026	Common Stock	43,800	2.97	D
Restricted Stock Unit(1)(5)	(6)	03/01/2019	Common Stock	7,318	(5)	D
Employee Stock Option (Right to Buy)	(7)	02/23/2027	Common Stock	17,500	1.96	D
Employee Stock Option (Right to Buy)	(8)	05/31/2027	Common Stock	17,500	2.15	D
Employee Stock Option (Right to Buy)	(9)	03/09/2028	Common Stock	35,000	3.13	D

Explanation of Responses:

1. Each security was originally issued by Emergent BioSolutions Inc. and, as a result of the spin-off of the Issuer from Emergent BioSolutions Inc. effective on August 1, 2016, was adjusted and assumed by the Issuer, other than 30,475 shares of the Issuer's common stock that was issued in connection with the spin-off and after giving effect to the withholding of stock to satisfy tax withholding obligations.

2. The stock option was granted on March 11, 2014 and became exercisable in three equal annual installments beginning on March 10, 2015.

3. The stock option was granted on March 10, 2015 and became exercisable in three equal annual installments beginning on March 9, 2016.

4. The stock option was granted on March 1, 2016. 14,600 shares underlying the stock option became exercisable on each of March 1, 2017 and March 1, 2018, and the remaining 14,600 shares become exercisable on March 1, 2019.

5. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.

6. On March 1, 2016 the reporting person was granted 21,958 restricted stock units. 7,320 shares of common stock underlying the restricted stock units vested on each of March 1, 2017 and March 1, 2018, and the remaining 7,318 shares vest on March 1, 2019.

7. The stock option was granted on February 24, 2017. 5,833 shares underlying the stock option became exercisable on February 23, 2018, 5,833 shares become exercisable on February 23, 2019 and 5,834 shares become exercisable on February 23, 2020.

8. The stock option was granted on June 1, 2017. 5,833 shares underlying the stock option became exercisable on May 31, 2018, 5,833 shares become exercisable on May 31, 2019 and 5,834 shares become exercisable on May 31, 2020.

9. The stock option was granted on March 10, 2018 and becomes exercisable in three equal annual installments beginning on March 9, 2019.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney

	/s/ Carl A. Valenstein, attorney-in-fact	08/10/2018
	** 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 5 (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.