Caley Castelein - Aug 26, 2021 Form 4 Insider Report for Aadi Bioscience, Inc. (AADI)

Role: Director
Signature: /s/ Caley Castelein
Stock symbol: AADI
Transactions as of: Aug 26, 2021
Transactions value $: $3,399,994
Form type: 4
Date filed: 8/30/2021, 09:11 PM
Previous filing: Jul 2, 2021
Next filing: Jan 5, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AADI	Common Stock	Purchase	$3.4M	+260K		$13.08	260K	Aug 26, 2021	See footnote	F1, F2
holding	AADI	Common Stock						19.7K	Aug 26, 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AADI	Stock option (right to buy)	Award	$0	+17.5K		$0.00	17.5K	Aug 27, 2021	Common Stock	17.5K	$26.00	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the purchase of 259,998 shares of Common Stock from Aadi Bioscience, Inc. (formerly Aerpio Pharmaceuticals, Inc.) pursuant to a subscription agreement dated May 16, 2021. The closing under the subscription agreement was conditioned upon the closing under that certain Agreement and Plan of Merger, dated May 16, 2021, by and between Aerpio Pharmaceuticals, Aadi Bioscience, Inc. and Aspen Merger Subsidiary, Inc.
F2	Securities beneficially owned indirectly by KVP Capital, LP. Dr. Castelein is the Managing Director of KVP Capital. Dr. Castelein disclaims beneficial ownership of shares held by KVP Capital, except to the extent of his pecuniary interest therein. Share and per-share information herein reflects a 1-for-15 reverse split of the Issuer's common stock that was effected on August 26, 2021.
F3	In connection with the closing of the merger by and between Aerpio Pharmaceuticals, Inc. and Aadi Bioscience, Inc., as approved by the stockholders of the Issuer on August 17, 2021, the Board granted on August 26, 2021 to the Reporting Person an Initial Award (as defined in the Issuer's Outside Director Compensation Policy and in accordance with the Issuer's 2021 Equity Incentive Plan (the "Plan")). Subject to the Reporting Person continuing to be a Service Provider (as defined in the Plan) through each applicable date, the Initial Award is scheduled to vest as to one thirty-sixth (1/36th) of the shares of common stock subject to the Initial Award on a monthly basis following the grant date on the same day of the month as the grant date (and if there is no corresponding day, on the last day of the month). The grant date is August 27, 2021.