Leslie W. Kreis - 02 Sep 2022 Form 4 Insider Report for Lantern Pharma Inc. (LTRN)

Role
10%+ Owner
Signature
/s/ Leslie W. Kreis, Jr
Issuer symbol
LTRN
Transactions as of
02 Sep 2022
Net transactions value
+$0.14
Form type
4
Filing time
07 Sep 2022, 16:54:49 UTC
Previous filing
30 Aug 2022
Next filing
29 Sep 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LTRN Common Stock Exercise of in-the-money or at-the-money derivative security $26,883 +26,100 $1.03* 26,100 02 Sep 2022 By BP Directors,LP F3, F4, F5
transaction LTRN Common Stock Sale $26,884 -5,170 -20% $5.20 20,930 02 Sep 2022 By BP Directors,LP F1, F3, F4, F5
transaction LTRN Common Stock Exercise of in-the-money or at-the-money derivative security $6,631 +6,438 +31% $1.03* 27,328 02 Sep 2022 By BP Directors,LP F3, F4, F5
transaction LTRN Common Stock Sale $6,630 -1,275 -4.7% $5.20 26,093 02 Sep 2022 By BP Directors,LP F2, F3, F4, F5
holding LTRN Common Stock 564,038 02 Sep 2022 By Bios Fund I, LP F3, F4, F5
holding LTRN Common Stock 329,904 02 Sep 2022 By Bios Fund I QP, LP F3, F4, F5
holding LTRN Common Stock 204,723 02 Sep 2022 By Bios Fund II, LP F3, F4, F5
holding LTRN Common Stock 668,738 02 Sep 2022 By Bios Fund II QP, LP F3, F4, F5
holding LTRN Common Stock 89,522 02 Sep 2022 By Bios Fund II NT, LP F3, F4, F5

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 LTRN Stock Option Exercise of in-the-money or at-the-money derivative security $0 +26,100 $0.000000 6,438 02 Sep 2022 Common Stock 26,100 $1.03 By BP Directors,LP F3, F4, F5
transaction LTRN Stock Option Exercise of in-the-money or at-the-money derivative security $0 +6,438 $0.000000* 0 02 Sep 2022 Common Stock 6,438 $1.03 By BP Directors,LP F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On September 2, 2022, the reporting person exercised an option to purchase 26,100 shares of LTRN common stock for $1.03 a share. The reporting person paid the exercise price on a cashless basis, resulting in LTRN's withholding of 5,170 of the warrant shares to pay the exercise price and issuing to the reporting person the remaining 20,930 shares.
F2 On September 2, 2022, the reporting person exercised an option to purchase 6,438 shares of LTRN common stock for $1.03 a share. The reporting person paid the exercise price on a cashless basis, resulting in LTRN's withholding of 1,275 of the warrant shares to pay the exercise price and issuing to the reporting person the remaining 5,163 shares.
F3 Bios Equity Partners, LP ("Bios Equity I") is the general partner of the following entities: Bios Fund I, Bios Fund I QP and BP Directors, LP ("Bios Directors"). Bios Equity Partners II, LP ("Bios Equity II") is the general partner of the following entities: Bios Fund II, Bios Fund II QP and Bios Fund II NT. Cavu Management, LP ("Cavu Management"), an entity managed and controlled by Mr. Kreis, and Bios Capital Management, LP ("Bios Management"), an entity managed and controlled by Aaron Glenn Louis Fletcher, are each a general partner of Bios Equity I and Bios Equity II. Cavu Advisors LLC ("Cavu Advisors"), an entity that is managed and controlled by Mr. Kreis, is the general partner of Cavu Management. Bios Advisors GP, LLC ("Bios Advisors"), an entity that is managed and controlled by Mr. Fletcher, is the general partner of Bios Management.
F4 Mr. Kreis, Cavu Management, Cavu Advisors, Mr. Fletcher, Bios Management and Bios Advisors each share voting and investment control with respect to the shares held by Bios Fund I, Bios Fund I QP, Bios Directors, Bios Fund II, Bios Fund II QP and Bios Fund II NT (collectively, the "Bios Equity Entities"). Because of the relationship between Mr. Kreis, Mr. Fletcher, Cavu Management, Bios Management, Cavu Advisors, Bios Advisors and the Bios Equity Entities, Mr. Kreis, Mr. Fletcher, Cavu Management, Bios Management, Cavu Advisors and Bios Advisors each may be deemed to beneficially own the shares held directly by the Bios Equity Entities.
F5 For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

Remarks:

This Form 4 is the first of two Forms $ filed relating to the same event. The Form 4 has been split into two filings because there are more than 10 reporting persons in total, and the SEC's EDGAR filing system limits a single Form 4 to a maximum of 10 reporting person. The second Form 4 will be filed by Aaron Glenn Louis Fletcher as the designated filer.