RA CAPITAL MANAGEMENT, L.P. - 03 Jun 2022 Form 4 Insider Report for Satsuma Pharmaceuticals, Inc.

Role
Director, 10%+ Owner
Signature
/s/ Peter Kolchinsky, Manager of RA Capital Management, L.P.
Issuer symbol
N/A
Transactions as of
03 Jun 2022
Net transactions value
$0
Form type
4
Filing time
07 Jun 2022, 17:31:25 UTC
Previous filing
03 Jun 2022
Next filing
08 Jun 2022
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 STSA Stock Option (Right to Buy) Award $0 +30,000 $0.000000 30,000 03 Jun 2022 Common Stock 30,000 $3.46 See footnotes F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 RA Capital Management, L.P. (the "Adviser") is the investment manager for RA Capital Healthcare Fund, L.P. (the "Fund"). The general partner of the Adviser is RA Capital Management GP, LLC (the "Adviser GP"), of which Dr. Peter Kolchinsky and Mr. Rajeev Shah are the managing members. The Adviser, the Adviser GP, Dr. Kolchinsky, and Mr. Shah disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein.
F2 The shares subject to the option will vest in full and become exercisable on the day immediately preceding the 2023 Annual Meeting.
F3 Under Mr. Shah's arrangement with the Adviser, Mr. Shah holds the option for the benefit of the Fund. Mr. Shah is obligated to turn over to the Adviser any net cash or stock received upon exercise of the option, which will offset advisory fees owed by the Fund. The Reporting Persons therefore disclaim beneficial ownership of the option and underlying common stock except to the extent of their pecuniary interest.

Remarks:

Mr. Rajeev Shah, a Managing Partner of the Adviser, serves on the Issuer's board of directors.