Michael Vangsted Jensen - Nov 10, 2023 Form 4 Insider Report for SYNLOGIC, INC. (SYBX)

Role
Chief Financial Officer
Signature
/s/ Michael Vangsted Jensen
Stock symbol
SYBX
Transactions as of
Nov 10, 2023
Transactions value $
$0
Form type
4
Date filed
11/14/2023, 07:22 PM
Previous filing
Apr 5, 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 SYBX Stock Option (right to buy) Disposed to Issuer -15.3K -100% 0 Nov 10, 2023 Common Stock 15.3K $33.45 Direct F1, F2
transaction SYBX Stock Option (right to buy) Disposed to Issuer -13.3K -100% 0 Nov 10, 2023 Common Stock 13.3K $9.30 Direct F1, F3
transaction SYBX Stock Option (right to buy) Disposed to Issuer -6.67K -100% 0 Nov 10, 2023 Common Stock 6.67K $9.30 Direct F1, F4
transaction SYBX Stock Option (right to buy) Award +15.3K 15.3K Nov 10, 2023 Common Stock 15.3K $1.85 Direct F1, F2
transaction SYBX Stock Option (right to buy) Award +13.3K 13.3K Nov 10, 2023 Common Stock 13.3K $1.85 Direct F1, F3
transaction SYBX Stock Option (right to buy) Award +6.67K 6.67K Nov 10, 2023 Common Stock 6.67K $1.85 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In accordance with the terms of the Synlogic, Inc. 2015 Equity Incentive Award Plan and the Company's 2017 Stock Incentive Plan (together the "Plans"), the Board of Directors of Synlogic, Inc. approved a stock option repricing pursuant to which option awards granted under the Plans were amended to reduce the exercise price to $1.85 per share, the closing stock price of the Company's Common Stock on November 10, 2023. Except for the modified exercise price, all other terms and conditions of each of the option awards will continue as set forth in the Plan and the applicable award agreements.
F2 These stock options vested 25% on the first anniversary of the March 3, 2022 grant date, and vest in 36 substantially-equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date.
F3 The shares subject to this option vest in approximately equal monthly installments beginning on April 1, 2023 through April 1, 2027.
F4 These performance-based stock options, granted on March 16, 2023, vest when the achievement of certain clinical and regulatory development milestones are met.