The Company has entered into Founders Agreements and, in some cases, Exchange Agreements with certain of its subsidiaries as described in the Company’s Form 10-K for the year ended December 31, 2017, filed with the SEC on March 16, 2018. The following table summarizes, by subsidiary, the effective date of the Founders Agreements and PIK dividend or equity fee payable to the Company in accordance with the terms of the Founders Agreements, Exchange Agreements and the subsidiaries’ certificates of incorporation. | Fortress Company | | Effective Date (1)
| | PIK Dividend as a % of
fully diluted outstanding
capitalization | | | | Class of Stock Issued | | | Helocyte | | March 20, 2015 | | | 2.5 | % | | | Common Stock | | | Avenue | | February 17, 2015 | | | 2.5 | % | | | Common Stock | | | Mustang | | March 13, 2015 | | | 2.5 | % | | | Common Stock | | | Checkpoint | | March 17, 2015 | | | 0.0 | % | (2) | | Common Stock | | | Cellvation | | October 31, 2016 | | | 2.5 | % | | | Common Stock | | | Caelum | | January 1, 2017 | | | 2.5 | % | | | Common Stock | | | Cyprium | | March 13, 2017 | | | 2.5 | % | | | Common Stock | | | Aevitas | | July 28, 2017 | | | 2.5 | % | | | Common Stock | | | Tamid | | November 30, 2017 (3)
| | | 2.5 | % | | | Common Stock | | | (1) | Represents the effective date of each subsidiary’s Founders Agreement. Each PIK dividend and equity fee is payable on the annual anniversary of the effective date of the original Founders Agreement. | | (2) | Instead of a PIK dividend, Checkpoint pays the Company an annual equity fee in shares of Checkpoint’s common stock equal to 2.5% of Checkpoint’s fully diluted outstanding capitalization. | | (3) | Represents the Trigger Date. |
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