Charles Garner - Mar 25, 2024 Form 3 Insider Report for Aileron Therapeutics, Inc. (ALRN)

Role: Senior Vice President, Finance
Signature: /s/ Charles T. Garner
Stock symbol: ALRN
Transactions as of: Mar 25, 2024
Transactions value $: $0
Form type: 3
Date filed: 4/2/2024, 06:10 PM

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
holding	ALRN	Stock Option (right to buy)							Mar 25, 2024	Common Stock	350K	$1.17	Direct	F1
holding	ALRN	Stock Option (right to buy)							Mar 25, 2024	Common Stock	25.6K	$2.34	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On October 31, 2023, the Issuer completed its merger with Lung Therapeutics, Inc. (the "Merger") in accordance with the terms of the Agreement and Plan of Merger, dated October 31, 2023. In connection with the Merger, the Issuer assumed the Reporting Person's option to purchase 2,049,557 shares of Lung Therapeutics, Inc. common stock originally granted on April 1, 2020, which option was converted into an option to purchase 349,750 shares of Issuer common stock. The shares underlying the options are fully vested.
F2	In connection with the Merger, the Issuer assumed the Reporting Person's option to purchase 150,000 shares of Lung Therapeutics, Inc. common stock originally granted on February 10, 2023, which option was converted into an option to purchase 25,597 shares of Issuer common stock. 25% of the shares underlying the option vested on the first anniversary of the grant date, and, thereafter, the remaining 75% of such shares vest in thirty-six (36) equal monthly installments, subject to the Reporting Person's continued service with the Issuer on each applicable vesting date.

Content

On October 31, 2023, the Issuer completed its merger with Lung Therapeutics, Inc. (the "Merger") in accordance with the terms of the Agreement and Plan of Merger, dated October 31, 2023. In connection with the Merger, the Issuer assumed the Reporting Person's option to purchase 2,049,557 shares of Lung Therapeutics, Inc. common stock originally granted on April 1, 2020, which option was converted into an option to purchase 349,750 shares of Issuer common stock. The shares underlying the options are fully vested.

In connection with the Merger, the Issuer assumed the Reporting Person's option to purchase 150,000 shares of Lung Therapeutics, Inc. common stock originally granted on February 10, 2023, which option was converted into an option to purchase 25,597 shares of Issuer common stock. 25% of the shares underlying the option vested on the first anniversary of the grant date, and, thereafter, the remaining 75% of such shares vest in thirty-six (36) equal monthly installments, subject to the Reporting Person's continued service with the Issuer on each applicable vesting date.