Richard Mitrano - Jul 5, 2023 Form 4 Insider Report for Frequency Therapeutics, Inc. (FREQ)

Signature
/s/ James Abely, Attorney-in-Fact for Richard Mitrano
Stock symbol
FREQ
Transactions as of
Jul 5, 2023
Transactions value $
-$78
Form type
4
Date filed
7/7/2023, 05:06 PM
Previous filing
Jul 12, 2023
Next filing
Jul 12, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FREQ Common Stock Options Exercise +758 +2.45% 31.8K Jul 5, 2023 Direct F1
transaction FREQ Common Stock Sale -$78 -224 -0.71% $0.35 31.5K Jul 6, 2023 Direct F2
transaction FREQ Common Stock Options Exercise +758 +2.4% 32.3K Jul 6, 2023 Direct F1
holding FREQ Common Stock 4.03K Jul 5, 2023 The Carey/Mitrano Family Trust

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 FREQ Restricted Stock Unit Options Exercise -758 -3.03% 24.2K Jul 5, 2023 Common Stock 758 Direct F1, F3
transaction FREQ Restricted Stock Unit Options Exercise -758 -3.13% 23.5K Jul 6, 2023 Common Stock 758 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of Issuer common stock.
F2 Represents a portion of the shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of the restricted stock units pursuant to a Rule 10b5-1 trading plan entered into on March 22, 2022 and does not represent discretionary trades by the Reporting Person.
F3 The restricted stock units will fully vest on July 4, 2023.