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Form 4 PROGENICS PHARMACEUTICAL For: Jun 19 Filed by: Ber Gerard

June 23, 2020 4:48 PM
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 *
Ber Gerard

(Last) (First) (Middle)
ONE WORLD TRADE CENTER
47TH FLOOR, SUITE J

(Street)
NEW YORK NY 10007

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PROGENICS PHARMACEUTICALS INC [ PGNX ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/19/2020
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 06/19/2020 D 50,000 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
Stock Option (Right to Buy) $ 5.01 06/19/2020 D 40,000 (2) (3) 12/13/2029 Common Stock 40,000 (2) (3) 0 D
Stock Option (Right to Buy) $ 5.01 06/19/2020 D 16,393 (2) 12/13/2029 Common Stock 16,393 (3) 0 D
Explanation of Responses:
1. On June 19, 2020, pursuant to the Amended and Restated Agreement and Plan of Merger, dated February 20, 2020 (the "Merger Agreement") among Lantheus Holdings, Inc. ("Lantheus"), Plato Merger Sub, Inc., a wholly-owned subsidiary of Lantheus ("Merger Sub"), and Progenics Pharmaceuticals, Inc. ("Progenics"), Merger Sub merged with and into Progenics (the "Merger"), with Progenics surviving as a wholly-owned subsidiary of Lantheus. Pursuant to the Merger Agreement, each share of Progenics common stock was cancelled and converted into the right to receive (i) 0.31 of a share of Lantheus common stock (with such fraction of a Lantheus share having a market value of $4.60 on the effective date of the Merger) and (ii) one contingent value right (a "CVR") issued by Lantheus subject to and in accordance with the Contingent Value Rights Agreement, dated June 19, 2020, between Lantheus and Computershare Trust Company, N.A.
2. At the effective time of the Merger, this option was assumed by Lantheus and converted into an option to purchase Lantheus common stock based on an exchange ratio of 0.31 of a share of Lantheus common stock for each share of Progenics common stock subject to the option (with a corresponding adjustment being made to the exercise price of the option). Except for these adjustments, the other terms of the option continue in effect.
3. This option was originally scheduled to vest in annual installments over the five-year period beginning December 13, 2019 and became immediately vested upon the Merger.
/s/ Gerard Ber 06/23/2020
** 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).
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