Steven Pieper - Oct 5, 2021 Form 4 Insider Report for Xeris Biopharma Holdings, Inc. (XERS)

Role
Chief Financial Officer
Signature
/s/ Beth Hecht, as Attorney-in-Fact
Stock symbol
XERS
Transactions as of
Oct 5, 2021
Transactions value $
$0
Form type
4
Date filed
10/5/2021, 07:43 PM
Previous filing
Jul 29, 2021
Next filing
Nov 12, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction XERS Common Stock Award +23.8K 23.8K Oct 5, 2021 Direct F1, F2
transaction XERS Common Stock Award +134K +565.02% 158K Oct 5, 2021 Direct F3

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 XERS Stock Option (Right to Buy) Award +16.8K 16.8K Oct 5, 2021 Common Stock 16.8K $1.55 Direct F4, F5
transaction XERS Stock Option (Right to Buy) Award +2.64K 2.64K Oct 5, 2021 Common Stock 2.64K $1.55 Direct F4, F5
transaction XERS Stock Option (Right to Buy) Award +14K 14K Oct 5, 2021 Common Stock 14K $5.93 Direct F4, F6, F8
transaction XERS Stock Option (Right to Buy) Award +12.5K 12.5K Oct 5, 2021 Common Stock 12.5K $6.37 Direct F4, F6
transaction XERS Stock Option (Right to Buy) Award +27.9K 27.9K Oct 5, 2021 Common Stock 27.9K $4.09 Direct F4, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On October 5, 2021, pursuant to the transaction agreement dated as of May 24, 2021 ("Transaction Agreement") by and among Xeris Pharmaceuticals, Inc. ("Xeris"), Strongbridge Biopharma plc ("Strongbridge"), the Issuer ("HoldCo") and Wells MergerSub, Inc., a wholly owned subsidiary of HoldCo ("MergerSub"), HoldCo acquired the entire issued and to be issued ordinary share capital of Strongbridge (the "Acquisition"), and MergerSub merged with and into Xeris, with Xeris continuing as the surviving corporation and wholly owned subsidiary of HoldCo (the "Merger", and together with the Acquisition, the "Transaction").
F2 (Continued from Footnote 1) At the effective time of the Merger (the "Merger Effective Time"), all existing shares of Xeris common stock (the "Xeris common stock") were cancelled and automatically converted into the right to receive HoldCo common stock on a one-for-one basis. This amount includes shares of HoldCo common stock received upon vesting of Xeris restricted stock units that were vested as of the Merger Effective Time, net of shares withheld for tax.
F3 Represents restricted stock units each representing a contingent right to receive one share of HoldCo common stock (the "HoldCo RSU"). At the Merger Effective Time, each restricted stock unit representing a contingent right to acquire one share of Xeris common stock (the "Xeris RSU") that was outstanding immediately prior to the Merger Effective Time was automatically converted into a HoldCo RSU on the same terms and conditions (including any applicable vesting and settlement terms) as were applicable to such Xeris RSU immediately prior to the Merger Effective Time, including that the number of shares of HoldCo common stock subject to such HoldCo RSU is equal to the number of shares that were subject to the Xeris RSU.
F4 At the Merger Effective Time, each option to purchase shares of Xeris common stock (the "Xeris Option") that was outstanding immediately prior to the Merger Effective Time, whether vested or unvested, was automatically converted into an option to purchase shares of HoldCo common stock (the "HoldCo Option"), on the same terms and conditions including any applicable vesting and exercisability requirements) as were applicable to such Xeris Option immediately prior to the Merger Effective Time, including that the number of shares of HoldCo common stock subject to the HoldCo Option is equal to the number of shares that were subject to the Xeris Option and the exercise price applicable to the HoldCo Option is the same as applied to the Xeris Option.
F5 These options are fully vested as of the date hereof.
F6 25% of these options shall vest on the first anniversary of the vesting commencement date, with the remainder vesting ratably over the following 36 months.
F7 50% of these options shall vest on the first anniversary of the vesting commencement date, with the remaining 50% vesting on the second anniversary of the commencement date.
F8 These options are early exercisable.