UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
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. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Restricted Share Units | 11/26/2012 | 01/01/2013 | Common Stock, no par value | 145,044 (1) | $ (2) | D | Â |
Stock Options (right to purchase) | Â (3) | 09/26/2013 | Common Stock, no par value | 150,000 | $ 9.97 | D | Â |
Restricted Share Units | 02/25/2012 | 02/25/2012 | Common Stock, no par value | 9,835 (4) | $ (2) | D | Â |
Stock Options (right to purchase) | Â (5) | 03/09/2014 | Common Stock, no par value | 112,550 | $ 10.86 | D | Â |
Restricted Share Units | 08/05/2014 | 08/05/2014 | Common Stock, no par value | 62,882 (6) | $ (2) | D | Â |
Deferred Share Units | Â (7) | Â (7) | Common Stock, no par value | 29,209 (7) | $ (7) | D | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Wells William McDowall C/O BIOVAIL CORPORATION, 7150 MISSISSAUGA ROAD MISSISSAUGA, A6 L5N 8M5 |
 X |  |  Chief Executive Officer |  |
/s/ Angie Palmer, by Power of Attorney | 01/04/2010 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(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). |
(1) | Includes an initial grant of 125,000 performance based Restricted Share Units (granted on May 1, 2008) and additional Restricted Share Units allocated to the Reporting Person as dividend equivalents on the payment date(s) of dividends on the Common Stock, no par value, of Biovail Corporation (the "Common Stock"). |
(2) | Each Restricted Share Unit represents a contingent right to receive one share of Common Stock. |
(3) | On September 26, 2008, the Reporting Person was granted 150,000 Stock Options. 50,000 Stock Options vested and became exercisable on September 26, 2009, 50,000 Stock Options will vest and become exercisable on each of September 26, 2010 and 2011. |
(4) | Includes an initial grant of 9,375 Restricted Share Units (granted on February 25, 2009) and additional Restricted Share Units allocated to the Reporting Person as dividend equivalents on the payment date(s) of dividends on Common Stock. |
(5) | On March 9, 2009, the Reporting Person was granted 112,550 Stock Options. 37,516 Stock Options will vest and become exercisable on each of March 9, 2010 and 2011 and the remaining 37,518 Stock Options will vest and become exercisable on March 9, 2012. |
(6) | Includes an initial grant of 62,500 performance based Restricted Share Units (granted on August 5, 2009) and additional Restricted Share Units allocated to the Reporting Person as dividend equivalents on the payment date(s) of dividends on Common Stock. |
(7) | Includes Deferred Share Units ("DSUs") granted to the Reporting Person pursuant to a non-management Deferred Share Unit Plan of the Board of Directors of Biovail Corporation, as well as additional DSUs allocated to the Reporting Person as dividend equivalents on the payment date(s) of dividends on Common Stock. Each DSU entitles its holder, upon ceasing to be a director, to receive an amount of cash having the same value as one share of Common Stock at such time. |
 Remarks: See Exhibit 24.1 - Power of Attorney |