David R. Wells - Mar 20, 2023 Form 4 Insider Report for Heart Test Laboratories, Inc. (HSCS)

Role
Director
Signature
/s/ Andrew Simpson, Attorney-In-Fact
Stock symbol
HSCS
Transactions as of
Mar 20, 2023
Transactions value $
$0
Form type
4
Date filed
3/22/2023, 07:56 PM
Previous filing
Jan 6, 2023
Next filing
Sep 29, 2023

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 HSCS Director Stock Option (Right to Buy) Award +50K 50K Mar 20, 2023 Common Stock 50K $0.97 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These options were granted to the Reporting Person effective as of March 20, 2023 (the "Effective Date"), pursuant to the approval of the Issuer's board of directors (the "Board") on March 20, 2023.
F2 The options shall vest in four equal increments, with the first tranche of the options vesting on June 20, 2023 (the "Initial Vesting Date"), with an additional one-fourth of the options vesting on each successive three-month anniversary of the Initial Vesting Date, subject to the Reporting Person's continued service on the Board through each applicable vesting date and subject to the terms of the Issuer's 2023 Equity Incentive Plan (the "2023 Plan").
F3 These options expire ten years from the Effective Date, unless terminated sooner in accordance with the 2023 Plan or the underlying options grant agreement.