Dale Chappell - Jun 30, 2021 Form 4 Insider Report for HUMANIGEN, INC (HGEN)

Role: Chief Scientific Officer, Director, 10%+ Owner
Signature: BLACK HORSE CAPITAL LP By: Black Horse Capital Management LLC, its Managing General Partner By: /s/ Dale Chappell Name: Dale Chappell Title: Manager
Stock symbol: HGEN
Transactions as of: Jun 30, 2021
Transactions value $: -$7,959,379
Form type: 4
Date filed: 7/2/2021, 05:44 PM
Previous filing: Jun 25, 2021
Next filing: Jul 9, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HGEN	Common Stock, $0.001 par value	Sale	-$284K	-16.4K	-1.69%	$17.28^*	956K	Jun 30, 2021	By Black Horse Capital LP	F1, F2, F5
transaction	HGEN	Common Stock, $0.001 par value	Sale	-$181K	-10.6K	-1.11%	$17.10^*	945K	Jul 1, 2021	By Black Horse Capital LP	F1, F2, F5
transaction	HGEN	Common Stock, $0.001 par value	Sale	-$132K	-7.71K	-0.82%	$17.12^*	938K	Jul 2, 2021	By Black Horse Capital LP	F1, F2, F5
transaction	HGEN	Common Stock, $0.001 par value	Sale	-$758K	-43.9K	-1.95%	$17.28^*	2.2M	Jun 30, 2021	By Black Horse Capital Master Fund Ltd.	F1, F3, F5
transaction	HGEN	Common Stock, $0.001 par value	Sale	-$482K	-28.2K	-1.28%	$17.10^*	2.17M	Jul 1, 2021	By Black Horse Capital Master Fund Ltd.	F1, F3, F5
transaction	HGEN	Common Stock, $0.001 par value	Sale	-$352K	-20.6K	-0.95%	$17.12^*	2.15M	Jul 2, 2021	By Black Horse Capital Master Fund Ltd.	F1, F3, F5
transaction	HGEN	Common Stock, $0.001 par value	Sale	-$2.75M	-159K	-1.93%	$17.28^*	8.06M	Jun 30, 2021	By Cheval Holdings, Ltd.	F1, F4, F5
transaction	HGEN	Common Stock, $0.001 par value	Sale	-$1.75M	-102K	-1.27%	$17.10^*	7.96M	Jul 1, 2021	By Cheval Holdings, Ltd.	F1, F4, F5
transaction	HGEN	Common Stock, $0.001 par value	Sale	-$1.28M	-74.6K	-0.94%	$17.12^*	7.88M	Jul 2, 2021	By Cheval Holdings, Ltd.	F1, F4, F5

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

Explanation of Responses:

Id	Content
F1	("BH Management") and Dale Chappell (collectively, the "Reporting Persons"). Each of the Reporting Persons 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. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own.
F2	Securities owned directly by the Domestic Fund. BH Management, as the managing general partner of the Domestic Fund, may be deemed to beneficially own the securities owned directly by the Domestic Fund. Dale Chappell, as the managing member of BH Management, may be deemed to beneficially own the securities owned directly by the Domestic Fund.
F3	Securities owned directly by the Offshore Fund. Dale Chappell, as the controlling person of the Offshore Fund, may be deemed to beneficially own the securities owned directly by the Offshore Fund.
F4	Securities owned directly by Cheval. Each of BH Management, by virtue of having been granted by the Board of Directors of Cheval the power to manage the securities of the Issuer owned by Cheval, and Dale Chappell, as the managing member of BH Management, may be deemed to beneficially own the securities owned directly by Cheval.
F5	The sales reported on this Form 4 were effected pursuant to a trading plan adopted pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.