Laureen DeBuono - 16 Dec 2023 Form 4 Insider Report for Rani Therapeutics Holdings, Inc. (RANI)

Role
Director
Signature
Svai Sanford. Attorney-in-Fact for Laureen DeBuono
Issuer symbol
RANI
Transactions as of
16 Dec 2023
Net transactions value
$0
Form type
4
Filing time
19 Dec 2023, 16:05:16 UTC
Previous filing
30 May 2023
Next filing
30 May 2024
SEC
View on sec.gov

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 RANI Stock Option (Right to Buy) Disposed to Issuer -101,276 -100% 0 16 Dec 2023 Class A Common Stock 101,276 $4.11 Direct F1, F2
transaction RANI Stock Option (Right to Buy) Award +101,276 101,276 16 Dec 2023 Class A Common Stock 101,276 $2.84 Direct F1, F2
transaction RANI Stock Option (Right to Buy) Disposed to Issuer -18,875 -14% 117,021 16 Dec 2023 Class A Common Stock 18,875 $9.44 Direct F2, F3, F4
transaction RANI Stock Option (Right to Buy) Award +18,875 18,875 16 Dec 2023 Class A Common Stock 18,875 $2.84 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares subject to the option vest in full on May 25, 2024, subject to the recipient's Continuous Service (as defined in the Issuer's 2021 Equity Incentive Plan) through such vesting date; provided that, if earlier, the shares subject to the option will vest in full upon the occurrence of either of the following events: the Issuer's next annual stockholder meeting or a Change in Control (as defined in the 2021 Equity Incentive Plan).
F2 The transactions reported herein reflect a one-time stock option repricing (the "Option Repricing") effective on December 16, 2023 (the "Repricing Date"). Pursuant to the Option Repricing, the exercise price of the repriced options has been amended to reduce the exercise price to $2.84 per share, the closing price of the Issuer's Common Stock on the Repricing Date. There is no change to the expiration dates or the vesting schedule of the repriced options.
F3 The remaining shares subject to the option are fully vested and exercisable as of the Repricing Date.
F4 The shares subject to the option vest as follows: 1/3rd of the shares subject to the option vest on April 20, 2022; and 1/36th of the shares subject to the option vest monthly over the following two years.