Edgar Filing: Sorrento Therapeutics, Inc.

Ownership Submission

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

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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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

SOON-SHIONG PATRICK

2. Issuer Name and Ticker or Trading Symbol
Sorrento Therapeutics, Inc. [SRNE]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

9922 JEFFERSON BOULEVARD

3. Date of Earliest Transaction (Month/Day/Year)
06/13/2016

(Street)

CULVER CITY, CA 90232

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/13/2016		S		37,792	D	$ 6.145 ⁽¹⁾	736,146	D
Common Stock	06/14/2016		S		15,972	D	$ 6.114 ⁽²⁾	720,174	D
Common Stock								7,188,061	I	Through The Chan Soon-Shiong Family Foundation ⁽³⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Warrant

$ 5.8 ⁽⁴⁾

12/22/2014

12/22/2017

Common Stock

1,724,138

Through Cambridge Equities, LP ⁽⁵⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
SOON-SHIONG PATRICK 9922 JEFFERSON BOULEVARD CULVER CITY, CA 90232		X
Chan Soon-Shiong Family Foundation 9922 JEFFERSON BOULEVARD CULVER CITY, CA 90232		X
Cambridge Equities, LP 9922 JEFFERSON BOULEVARD CULVER CITY, CA 90232				Reporting group member
MP 13 Ventures, LLC 9922 JEFFERSON BOULEVARD CULVER CITY, CA 90232				Reporting group member

Signatures

/s/ Patrick Soon-Shiong on behalf of himself and each other reporting person		06/15/2016
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	These shares of common stock were sold on the open market. The price reported in Column 4 is a weighted average sale price. Dr. Patrick Soon-Shiong undertakes to provide to Sorrento Therapeutics, Inc. (the "Company"), any securityholder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the price at which these shares were sold.
(2)	These shares of common stock were sold on the open market. The price reported in Column 4 is a weighted average sale price. Dr. Patrick Soon-Shiong undertakes to provide to the Company, any securityholder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the price at which these shares were sold.
(3)	Dr. Patrick Soon-Shiong is the Chairman of The Chan Soon-Shiong Family Foundation.
(4)	The exercise price of the Warrant is subject to customary adjustment provisions for stock splits, stock dividends, recapitalizations and the like.
(5)	Dr. Patrick Soon-Shiong is the sole member of MP 13 Ventures, LLC, which is the general partner of Cambridge Equities, LP.
Remarks: This Form 4 shall not be deemed to be an admission by any reporting person hereunder that it or he is the beneficial owner, for purposes of Section 16 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), for purposes of Section 13 of the Exchange Act, or for any other purpose, of any of the securities reported herein. Without limiting the immediately preceding sentence, each reporting person hereunder expressly disclaims beneficial ownership, for purposes of Section 16 of the Exchange Act, of all securities reported herein, except to the extent of its or his pecuniary interest therein.

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