Funicular Funds, LP - Dec 15, 2022 Form 4 Insider Report for ARCA biopharma, Inc. (ABIO)

Signature
/s/ Jacob Ma-Weaver
Stock symbol
ABIO
Transactions as of
Dec 15, 2022
Transactions value $
$3,550,000
Form type
4
Date filed
12/19/2022, 04:33 PM
Previous filing
Jul 8, 2022
Next filing
Feb 13, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ABIO Common Stock Exercise of in-the-money or at-the-money derivative security $3.55M +1.42M +55.03% $2.50 4M Dec 16, 2022 Direct F1, F2

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 ABIO Stock Option (right to buy) Award $0 +6K +50% $0.00 18K Dec 15, 2022 Common Stock 6K $2.32 Direct F1, F2, F3, F4
transaction ABIO Put Option Exercise of in-the-money or at-the-money derivative security $0 -14.2K -32.13% $0.00 30K Dec 16, 2022 Common Stock 1.42M $2.50 Direct F1, F2
transaction ABIO Put Option Expiration of short derivative position $0 -300 -100% $0.00* 0 Dec 16, 2022 Common Stock 30K $2.50 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This Form 4 is filed by Funicular Funds, LP (the "Fund") and Jacob Ma-Weaver ("Mr. Ma-Weaver" and together with the Fund, the "Reporting Persons"). The Reporting Persons, the Funicular Fund ("Funicular") and Cable Car Capital LLC ("Cable Car") may be deemed to be a member of a Section 13(d) group that may be deemed to collectively beneficially own more than 10% of the Issuer's outstanding shares of Common Stock. The Reporting Persons, Funicular and Cable Car disclaim beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
F2 Represents securities directly owned by the Fund. Funicular, as a feeder fund to the Fund, may be deemed to beneficially own the securities directly ownedby the Fund. Cable Car, as the general partner of the Fund, may be deemed to beneficially own the securities directly owned by the Fund. Mr. Ma-Weaver, asthe Managing Member of Cable Car, may be deemed to beneficially own the securities directly owned by the Fund.
F3 Grant to Mr. Ma-Weaver of a stock option under the 2020 Equity Incentive Plan (the "Plan"), vesting in 12 equal monthly installments beginning as of December 15, 2022. If Mr. Ma-Weaver's service as a director of the Issuer terminates in connection with or at any time following a change in control (for whatever reason), then any unexpired options that remain unvested shall become fully vested.
F4 Pursuant to the terms of the Plan, the stock option may not be transferred. Upon vesting, Mr. Ma-Weaver intends on exercising the option and assigning the underlying shares to the Fund.