Sandeep Chidambar Kulkarni - Mar 20, 2023 Form 3 Insider Report for Zura Bio Ltd (ZURA)

Role
Director
Signature
/s/ Kimberly Ann Davis, Attorney-in-Fact
Stock symbol
ZURA
Transactions as of
Mar 20, 2023
Transactions value $
$0
Form type
3
Date filed
3/21/2023, 07:37 PM
Next filing
May 22, 2023

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
holding ZURA Employee Stock Option (Right to Buy) Mar 20, 2023 Class A Ordinary Shares 346K $0.84 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person was granted the option on June 8, 2022. 14,591 Class ordinary shares underlying the option vested on June 8, 2022, thereafter 6,161 Class A ordinary shares vest at the end of each month until February 2026, and then 8,430 Class A ordinary shares vest at the end of March 2026. The final 45,611 shares vest upon raising of external capital of US $75,000,000, except in certain limited circumstances, subject to the Reporting Person's continued service to the Issuer on each vesting date.
F2 In connection with the closing of the business combination between the Issuer and Zura Bio Limited, a company incorporated under the laws of England and Wales ("Zura"), among other things, each ordinary share of Zura was exchanged pursuant to the terms of the Business Combination Agreement (including the corporate restructuring of Zura contemplated therein) into Class A Ordinary Shares of the Issuer (the exchange ratio used for such exchange is hereinafter referred to as the "Exchange Ratio"). In addition, each outstanding Zura equity award was automatically converted into a corresponding equity award of the Issuer based on the Exchange Ratio and with the same terms and vesting conditions as the Zura equity awards.

Remarks:

Exhibit 24 - Power of Attorney