Sciclone Pharmaceuticals (SCLN) Form 4 SCICLONE PHARMACEUTICALS / Carey Chern 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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X

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^*

Chern Carey

(Last) (First) (Middle)

950 TOWER LANE, SUITE 900

(Street)

FOSTER CITY CA 94404

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SCICLONE PHARMACEUTICALS INC [ SCLN ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
10/13/2017

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
Common Stock	10/13/2017		M		30,000	A	(1)	31,982(2)	D
Common Stock	10/13/2017		F		11,274	D	$11.18	20,708	D
Common Stock	10/13/2017		D		20,708	A	$11.18	0	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
Incentive Stock Option (right to buy)(3)	$10.35	10/13/2017		D			38,644	(4)	11/14/2026	Common Stock	38,644	$0.83(5)	0	D
Non-Qualified Stock Option (right to buy)(3)	$10.35	10/13/2017		D			41,356	(4)	11/14/2026	Common Stock	41,356	$0.83(5)	0	D
Restricted Stock Unit(3)	(1)	10/13/2017		M			30,000	(6)	(6)	Common Stock	30,000	(1)	0	D

Explanation of Responses:

1. Each restricted stock unit represented a contingent right to receive one share of SCLN common stock upon settlement.

2. Includes 773 shares of SCLN common stock acquired under Issuer's 2016 Employee Stock Purchase Plan on May 31, 2017; 746 shares of SCLN common stock acquired under Issuer's 2016 Employee Stock Purchase Plan on August 31, 2017; and 463 shares of SCLN common stock acquired under Issuer's 2016 Employee Stock Purchase Plan on October 6, 2017.

3. Granted under Issuer's 2015 Equity Incentive Plan.

4. Under its terms the option became exercisable in installments with 25% vesting on October 24, 2017 and 2.0833% vesting each month thereafter until it became vested in full immediately prior to the merger of Issuer and Silver Delaware Investment Limited (the "Merger").

5. The option was canceled immediately prior to the Merger in exchange for a cash payment per share from the Issuer in an amount equal to the excess of $11.18 per share over the exercise price.

6. Restricted stock units became fully vested and entitled to settlement immediately prior to the Merger and terminated upon settlement in shares of SCLN common stock.

Remarks:

	/s/ Carey Chern	10/16/2017
	** Signature of Reporting Person	Date
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