SEC FORM 4 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*
Benny Paul S.

(Last) (First) (Middle)
C/O SEASPINE HOLDINGS CORPORATION
5770 ARMADA DRIVE

(Street)
CARLSBAD CA 92008

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SeaSpine Holdings Corp [ SPNE ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
VP, Treasurer
3. Date of Earliest Transaction (Month/Day/Year)
01/05/2023
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 01/05/2023 D 20,950 D (1) 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
Restricted Stock Units $0.0(2) 01/05/2023 D 1,186 (3) (3) Common Stock 1,186 (4) 0 D
Restricted Stock Units $0.0 01/05/2023 D 2,762 (5) (5) Common Stock 2,762 (6) 0 D
Employee Stock Option (Right to Buy) $15.68 01/05/2023 D 10,000 (7) 08/01/2023 Common Stock 10,000 (8) 0 D
Employee Stock Option (Right to Buy) $14.19 01/05/2023 D 8,800 (9) 01/27/2024 Common Stock 8,800 (10) 0 D
Employee Stock Option (Right to Buy) $18.24 01/05/2023 D 3,423 (11) 01/01/2027 Common Stock 3,423 (12) 0 D
Employee Stock Option (Right to Buy) $12.01 01/05/2023 D 10,398 (13) 01/01/2028 Common Stock 10,398 (14) 0 D
Employee Stock Option (Right to Buy) $9.93 01/05/2023 D 2,716 (15) 04/23/2028 Common Stock 2,716 (16) 0 D
Employee Stock Option (Right to Buy) $16.86 01/05/2023 D 5,925 (17) 01/28/2029 Common Stock 5,925 (18) 0 D
Employee Stock Option (Right to Buy) $12.67 01/05/2023 D 6,906 (19) 02/28/2030 Common Stock 6,906 (20) 0 D
Explanation of Responses:
1. Disposed of pursuant to the Agreement and Plan of Merger by and among the issuer, SeaSpine Holdings Corporation, which became effective on January 5, 2023, in exchange for 8,721 Orthofix MedicalInc. ("Orthofix") ordinary shares having a market value of $22.76 per share at the effective time of the merger.
2. Each restricted stock unit represents a contingent right to receive one share of SeaSpine Holdings Corporation common stock.
3. The restricted stock units vest in three equal installments on each of January 28, 2022, 2023 and 2024.
4. These restricted stock units were assumed by Orthofix in the merger and replaced by 493 Orthofix restricted stock units.
5. The restricted stock units vest in three equal installments on each of February 28, 2023, 2024 and 2025.
6. These restricted stock units were assumed by Orthofix in the merger and replaced by 1,149 Orthofix restricted stock units.
7. The option vests as to 25% of the underlying shares on May 1, 2016 and the remaining 75% vests in twelve substantially equal quarterly installments thereafter.
8. This option was assumed by Orthofix in the merger and replaced with an option to purchase 4,163 shares of Orthofix at a price of $37.67 per share.
9. The option vests as to 25% of the underlying shares on January 27, 2017 and the remaining 75% vests in twelve substantially equal quarterly installments thereafter.
10. This option was assumed by Orthofix in the merger and replaced with an option to purchase 3,663 shares of Orthofix at a price of $34.09 per share.
11. The option vests as to 25% of the underlying shares on January 1, 2020 and the remaining 75% vests in twelve substantially equal quarterly installments thereafter.
12. This option was assumed by Orthofix in the merger and replaced with an option to purchase 1,424 shares of Orthofix at a price of $43.82 per share.
13. The option vests as to 25% of the underlying shares on January 1, 2021 and the remaining 75% vests in twelve substantially equal quarterly installments thereafter.
14. This option was assumed by Orthofix in the merger and replaced with an option to purchase 4,328 shares of Orthofix at a price of $28.85 per share.
15. The option vested in full on June 21, 2020.
16. This option was assumed by Orthofix in the merger and replaced with an option to purchase 1,130 shares of Orthofix at a price of $23.86 per share.
17. The option vests as to 25% of the underlying shares on January 28, 2022 and the remaining 75% vests in twelve substantially equal quarterly installments thereafter.
18. This option was assumed by Orthofix in the merger and replaced with an option to purchase 2,466 shares of Orthofix at a price of $40.50 per share.
19. The option will vest as to 25% of the underlying shares on February 28, 2023 and the remaining 75% will vest in twelve substantially equal quarterly installments thereafter.
20. This option was assumed by Orthofix in the merger and replaced with an option to purchase 2,874 shares of Orthofix at a price of $30.44 per share.
Remarks:
/s/ Paul Benny 01/09/2023
** 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).
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