XML 84 R16.htm IDEA: XBRL DOCUMENT v2.4.1.9
Equity
12 Months Ended
Dec. 31, 2014
Equity

(10)    Equity

During the year ended December 31, 2014, the Company received a refund of $3.2 million for UK stamp duty taxes paid in prior periods related to the issuance of common stock. Such proceeds were recorded as an increase to additional paid-in capital.

During the years ended December 31, 2014 and 2013, the Company issued 234,500 and 386,000 shares, respectively, as a result of the exercise of stock options, resulting in gross and net proceeds of $0.3 million during the year ended December 31, 2014 and $0.6 million during the year ended December 31, 2013. In addition, during the year ended December 31, 2014 and 2013, the Company issued 1,684,888 and 147,050 shares, respectively, as a result of the exercise of warrants, resulting in gross and net proceeds of $1.7 million during the year ended December 31, 2014 and $0.2 million during the year ended December 31, 2013.

On March 11, 2014, the Company granted a total of 173,348 restricted stock units, or RSUs, and 205,890 stock options to members of the Company’s Board of Directors under the Amarin Corporation plc 2011 Stock Incentive Plan, or the 2011 Plan. The RSUs vest in equal installments over a three year period commencing with each installment vesting each year upon the earlier of the anniversary of the grant date or the Company’s annual general meeting of shareholders in such anniversary year. The RSUs will become fully vested upon a change of control of the Company. Upon termination of service to the Company, each Director shall be entitled to a payment equal to the fair market value of one share of Amarin common stock, which is required to be made in shares. The stock options vest in full upon the earlier of the anniversary of the grant date or the Company’s annual general meeting of shareholders in such anniversary year. The stock options will become fully vested upon a change of control of the Company.

 

On January 8, 2014, the Company granted a total of 2,082,000 RSUs and 2,605,500 stock options to employees under the 2011 Plan. The RSU’s vest annually over a three year period and the stock options vest monthly over a four year period, with both becoming fully vested upon a change of control of the Company.

In January 2013, the Company granted 454,875 RSUs to several employees under the 2011 Plan. The terms of these RSUs provided for vesting upon the achievement of certain operational milestones. In the year ended December 31, 2013, as a result of the operational milestones not being achieved, all of these RSU’s were forfeited and no shares were issued as a result of vesting.