Randolph W. Hubbell - 18 Jul 2023 Form 4 Insider Report for ALPHA HEALTHCARE ACQUISITION CORP III (XAGE)

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Shares	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CTCX	Stock Option (right to buy)	Award	+217,175	217,175	14 Jul 2023	Common Stock	217,175	$1.79	Direct	F1, F4
transaction	CTCX	Stock Option (right to buy)	Award	+37,642	37,642	14 Jul 2023	Common Stock	37,642	$2.27	Direct	F2, F4
transaction	CTCX	Stock Option (right to buy)	Award	+480,110	480,110	14 Jul 2023	Common Stock	480,110	$2.11	Direct	F3, F4

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

Id	Content
F1	Options are fully vested and exercisable.
F2	Options to purchase 37,642 shares of common stock of Legacy Carmell (as defined below) granted on July 19, 2019, which vest as follows: 25% vested on July 19, 2020, July 19, 2021 and July 19, 2022. The remaining 25% will vest and become exercisable on July 19, 2023.
F3	Options to purchase 480,110 shares of common stock of Legacy Carmell granted on September 23, 2021, which vest as follows: 25% vested on September 23, 2022 and the remaining 75% becomes vested in 36 equal monthly installments thereafter, subject to continued service through each vesting date.
F4	On July 14, 2023, Alpha Healthcare Acquisition Corp. III ("ALPA") consummated a business combination (the "Business Combination") by and among ALPA, Candy Merger Sub, Inc., a Delaware Corporation ("Merger Sub") and Carmell Regen Med Corporation, a Delaware corporation ("Legacy Carmell"), ALPA changed its name to "Carmell Therapeutics Corporation" and Merger Sub merged with and into Legacy Carmell. As part of the Business Combination, each Legacy Carmell stock option was exchanged for a stock option to acquire 0.06154 shares of common stock of Carmell Therapeutics Corporation.