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PBTH Prolor Biotech, Inc.

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
Prolor Biotech, Inc. AMEX:PBTH AMEX Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Statement of Changes in Beneficial Ownership (4)

03/09/2013 9:48pm

Edgar (US Regulatory)


FORM 4
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

HAVRON ABRAHAM
2. Issuer Name and Ticker or Trading Symbol

PROLOR Biotech, Inc. [ PBTH ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Chief Executive Officer
(Last)          (First)          (Middle)

7 GOLDA MEIR STREET,, WEIZMANN SCIENCE PARK
3. Date of Earliest Transaction (MM/DD/YYYY)

8/29/2013
(Street)

NES-ZIONA, L3 74140
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   8/29/2013     D    345643   D   (1) 0   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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)   $0.88   8/29/2013     D         31286      (2) 12/14/2015   Common Stock   31286     (2) 0   D    
Stock Option (right to buy)   $0.88   8/29/2013     D         145048      (3) 12/14/2016   Common Stock   145048     (3) 0   D    
Stock Option (right to buy)   $2.00   8/29/2013     D         200000      (4) 5/9/2017   Common Stock   200000     (4) 0   D    
Stock Option (right to buy)   $0.90   8/29/2013     D         900000      (5) 3/1/2018   Common Stock   900000     (5) 0   D    
Stock Option (right to buy)   $0.65   8/29/2013     D         100000      (6) 2/1/2019   Common Stock   100000     (6) 0   D    
Stock Option (right to buy)   $2.40   8/29/2013     D         200000      (7) 1/10/2020   Common Stock   200000     (7) 0   D    
Stock Option (right to buy)   $6.47   8/29/2013     D         200000      (8) 12/31/2020   Common Stock   200000     (8) 0   D    
Stock Option (right to buy)   $4.74   8/29/2013     D         400000      (9) 2/4/2023   Common Stock   400000     (9) 0   D    

Explanation of Responses:
( 1)  Disposed of pursuant to an Agreement and Plan of Merger, dated as of April 23, 2013 (the "Merger Agreement"), by and among the Issuer, OPKO Health, Inc. ("OPKO") and POM Acquisition, Inc. ("POM"), a wholly-owned subsidiary of OPKO formed for the purpose of facilitating the merger of POM with and into the Issuer (the "Merger"). Pursuant to the Merger Agreement, at the effective time of the Merger, each share of common stock, par value $0.00001 per share, of the Issuer was cancelled and converted into the right to receive 0.9951 of a share of common stock, par value $0.01 per share, of OPKO ("OPKO Common Stock"). The OPKO Common Stock has a market value of $8.49 per share (based on the closing price per share of OPKO Common Stock on August 29, 2013, the effective date of the Merger).
( 2)  Pursuant to the Merger Agreement, this option, which was issued on December 14, 2005 and was fully vested upon issuance, was assumed by OPKO at the effective time of the Merger and replaced with an option to purchase 31,132 shares of OPKO Common Stock at an exercise price of $0.89 per share.
( 3)  Pursuant to the Merger Agreement, this option, which was issued on December 14, 2006 and was fully vested upon issuance, was assumed by OPKO at the effective time of the Merger and replaced with an option to purchase 144,337 shares of OPKO Common Stock at an exercise price of $0.89 per share.
( 4)  Pursuant to the Merger Agreement, this option, which vested in 3 equal annual installments beginning on May 9, 2008, was assumed by OPKO at the effective time of the Merger and replaced with an option to purchase 199,020 shares of OPKO Common Stock at an exercise price of $2.01 per share.
( 5)  Pursuant to the Merger Agreement, this option, which vested in 4 equal annual installments beginning on March 1, 2009, was assumed by OPKO at the effective time of the Merger and replaced with an option to purchase 895,590 shares of OPKO Common Stock at an exercise price of $0.91 per share.
( 6)  Pursuant to the Merger Agreement, this option, which vested in 3 equal annual installments beginning on February 4, 2010, was assumed by OPKO at the effective time of the Merger and replaced with an option to purchase 99,510 shares of OPKO Common Stock at an exercise price of $0.66 per share.
( 7)  Pursuant to the Merger Agreement, this option, which provided for vesting in 4 equal annual installments beginning on January 11, 2011, was assumed by OPKO at the effective time of the Merger and replaced with an option to purchase 199,020 shares of OPKO Common Stock at an exercise price of $2.42 per share. In addition, pursuant to the stock option agreement governing this option, at the effective time of the Merger this option became fully vested and exercisable.
( 8)  Pursuant to the Merger Agreement, this option, which provided for vesting in 4 equal annual installments beginning on December 31, 2011, was assumed by OPKO at the effective time of the Merger and replaced with an option to purchase 199,020 shares of OPKO Common Stock at an exercise price of $6.51 per share. In addition, pursuant to the stock option agreement governing this option, at the effective time of the Merger this option became fully vested and exercisable.
( 9)  Pursuant to the Merger Agreement, this option, which provided for vesting in 12 equal monthly installments beginning on March 4, 2013, was assumed by OPKO at the effective time of the Merger and replaced with an option to purchase 398,040 shares of OPKO Common Stock at an exercise price of $4.77 per share. The reporting person waived the right to the acceleration of the vesting of these options at the effective time of the Merger pursuant to the stock option agreement governing this option.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
HAVRON ABRAHAM
7 GOLDA MEIR STREET,
WEIZMANN SCIENCE PARK
NES-ZIONA, L3 74140
X
Chief Executive Officer

Signatures
/s/ Abraham Havron 9/3/2013
** 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).
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 control number.

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