Marten Steen - Oct 5, 2021 Form 4 Insider Report for Strongbridge Biopharma plc (SBBP)

Role: Director
Signature: /s/ Judith Goldberg, as attorney-in-fact
Stock symbol: SBBP
Transactions as of: Oct 5, 2021
Transactions value $: $0
Form type: 4
Date filed: 10/6/2021, 07:41 PM
Previous filing: Oct 5, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SBBP	Ordinary Shares	Disposed to Issuer		-64.2K	-100%		0	Oct 5, 2021	By HealthCap VI, L.P.	F1, F2

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	SBBP	Stock Option (Right to Buy)	Disposed to Issuer		-155K	-100%		0	Oct 5, 2021	Ordinary Shares	155K		By HealthCap VI, L.P.	F2, F3

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

Explanation of Responses:

Id	Content
F1	Ordinary shares of Issuer were converted into shares of common stock of Xeris Biopharma Holdings, Inc. ("HoldCo") pursuant to the Transaction Agreement (the "Agreement"), dated May 24, 2021, among the Issuer, Xeris Pharmaceuticals, Inc., HoldCo and Wells MergerSub, Inc. Under the Agreement, each ordinary share of Issuer was exchanged for 0.784 of a share of HoldCo common stock, and cash in lieu of fractional shares, plus one contingent value right (a "CVR") worth up to an additional $1.00, payable in cash, HoldCo common stock or a combination thereof at HoldCo's sole election.
F2	Based on his affiliation with HealthCap VI, L.P., the Reporting Person may be deemed the beneficial owner of these securities. The Reporting Person expressly disclaims beneficial ownership over these securities except to the extent of his pecuniary interest therein.
F3	Under the Agreement, each option to purchase ordinary shares of Issuer was automatically converted into an option to acquire a number of shares of HoldCo common stock determined by multiplying the number of ordinary shares of Issuer subject to such option by 0.784 (rounded down to the nearest whole share), at an exercise price per share (rounded up to the nearest whole cent) determined by dividing the per-share exercise price of Issuer option by 0.784, with the same terms and conditions as applied to the applicable option prior to closing of the transaction. HoldCo issued one CVR with respect to each ordinary share of Issuer subject to each option prior to the adjustment described herein, subject to the same vesting and forfeiture conditions applicable to the corresponding option.