Cascadian Therapeutics
Cascadian Therapeutics, Inc. (Form: 4, Received: 09/20/2017 21:16:05)
FORM 4
[ ] 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
                                                                                  
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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 *

PETERSON SCOTT ROBERT
2. Issuer Name and Ticker or Trading Symbol

Cascadian Therapeutics, Inc. [ CASC ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

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

C/O CASCADIAN THERAPEUTICS, INC., 2601 FOURTH AVE., SUITE 500
3. Date of Earliest Transaction (MM/DD/YYYY)

9/18/2017
(Street)

SEATTLE, WA 98121
(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

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)   $3.99   9/18/2017     A      65000         (1) 9/18/2027   Common Stock   65000   $0.00   65000   D    
Restricted Share Unit (RSU)     (2) 9/18/2017     A      14000         (3) 9/18/2021   Common Stock   14000   $0.00   14000   D    

Explanation of Responses:
(1)  The option vests and is exercisable at the rate of 1/4th of the total shares on September 18, 2018 and then 1/48th of the total shares vest and are exercisable monthly thereafter, with 100% vested and exercisable on September 18, 2021, subject to the holder's continued employment with the issuer on each vesting date.
(2)  Approximately 67% of each RSU represents a contingent right to receive approximately 0.67 share of the issuer's Common Stock upon vesting and approximately 33% represents a contingent right to receive cash upon vesting, which cash will be used to facilitate the holder's satisfaction of U.S. federal tax obligations in connection with the vesting of the RSUs.
(3)  Twenty-five percent of the shares underlying the RSU vest on each of September 18, 2018, September 18, 2019, September 18, 2020 and September 18, 2021, subject to the holder's continued employment with the issuer on each vesting date.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
PETERSON SCOTT ROBERT
C/O CASCADIAN THERAPEUTICS, INC.
2601 FOURTH AVE., SUITE 500
SEATTLE, WA 98121


Chief Scientific Officer

Signatures
/s/ Julia M. Eastland as attorney-in-fact for Scott R. Peterson 9/20/2017
** 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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