Healthwell Acquisition Corp. I Sponsor LLC - 16 Sep 2021 Form 4 Insider Report for Healthwell Acquisition Corp. I

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	HWEL	Class B common stock	Other		-937,500	-13%		6,250,000	16 Sep 2021	Class A common stock	937,500		Direct	F1, F2, F3

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

Id	Content
F1	The shares of Class B common stock will automatically convert into shares of Class A common stock on the first business day following the consummation of the Issuer's initial business combination, on a one-for-one basis, subject to adjustment as set forth in the Issuer's registration statement on Form S-1 (File No. 333-253418) (the "Registration Statement") and have no expiration date.
F2	937,500 shares were forfeited to the Issuer at no cost in connection with the expiration of the underwriters' over-allotment option, as described in the Registration Statement.
F3	The securities are held directly by the Sponsor and indirectly by Alyssa Rapp, who serves as the Chief Executive Officer and a director of the Issuer, and John L. MacCarthy, who serves as a director of the Issuer, and who indirectly control the Sponsor. Certain of the Issuer's other directors and officers hold economic interests in the Sponsor and pecuniary interests in certain of the securities held by the Sponsor. Each of Ms. Rapp and Mr. MacCarthy and such other directors and officers disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.