Oliver Spandow - Jan 5, 2023 Form 4 Insider Report for NEPHROS INC (NEPH)

Role: Director
Signature: /s/ Christopher Melsha as attorney-in-fact for Oliver Spandow pursuant to power of attorney previously filed.
Stock symbol: NEPH
Transactions as of: Jan 5, 2023
Transactions value $: $0
Form type: 4
Date filed: 1/9/2023, 03:32 PM
Previous filing: Dec 16, 2021
Next filing: Dec 15, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NEPH	Common Stock	Award	$0	+42.5K	+171.09%	$0.00	67.3K	Jan 5, 2023	Direct	F1

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	NEPH	Stock Option (Right to Buy)	Award	$0	+7.08K		$0.00	7.08K	Jan 5, 2023	Common Stock	7.08K	$1.07	Direct	F4
holding	NEPH	Stock Option (Right to Buy)						9.47K	Jan 5, 2023	Common Stock	9.47K	$5.58	Direct	F2
holding	NEPH	Stock Option (Right to Buy)						5.16K	Jan 5, 2023	Common Stock	5.16K	$5.85	Direct	F2
holding	NEPH	Stock Option (Right to Buy)						5.57K	Jan 5, 2023	Common Stock	5.57K	$8.57	Direct	F2
holding	NEPH	Stock Option (Right to Buy)						6.85K	Jan 5, 2023	Common Stock	6.85K	$8.06	Direct	F2
holding	NEPH	Stock Option (Right to Buy)						7.06K	Jan 5, 2023	Common Stock	7.06K	$6.82	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Represents shares of restricted stock granted to the reporting person in lieu of cash fees payable to the reporting person for his service on the Company's Board of Directors for 2022. These shares of restricted stock vest 6 months following the grant date.
F2	Fully exercisable.
F3	This option vests as to 2,354 shares on each of 12/14/21, 12/14/22 and 12/14/23.
F4	Represents options granted to the reporting person for his service on the Company's Board of Directors for 2022. This option vests as to 2,360 shares on each of 1/5/23, 1/5/24 and 1/5/25.