Christian Elling - Aug 9, 2023 Form 4 Insider Report for IO Biotech, Inc. (IOBT)

Role: Director, 10%+ Owner
Signature: /s/ Brian Burkavage, Attorney-in-Fact for Christian Elling
Stock symbol: IOBT
Transactions as of: Aug 9, 2023
Transactions value $: $15,999,999
Form type: 4
Date filed: 8/11/2023, 09:24 PM
Previous filing: Jun 13, 2023
Next filing: Jun 7, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IOBT	Common Stock	Award	$15M	+7.9M	+130.61%	$1.90	14M	Aug 9, 2023	Lundbeckfond Invest A/S	F1

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	IOBT	Warrants (Right to Buy)	Award	$988K	+7.9M		$0.13^*	7.9M	Aug 9, 2023	Common Stock	7.9M	$2.47	Lundbeckfond Invest A/S	F1, F2

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

Explanation of Responses:

Id	Content
F1	The securities are held of record by Lundbeckfond Invest A/S. The Reporting Person is Managing Partner of Lundbeckfonden Emerge, a division of Lundbeckfond Invest A/S. The Reporting Person disclaims beneficial ownership of the securities held by Lundbeckfond Invest A/S except to the extent of his pecuniary interest therein, if any.
F2	These warrants expire at 5:00 p.m. Eastern time on the earlier of (i) February 9, 2027, and (ii) one day prior to the closing of an Acquisition (as such term is defined in the Form of Warrant, attached as Exhibit 4.1 to the Issuer's Current Report on Form 8-K, filed with the Securities and Exchange Commission on August 7, 2023).