Mir Imran - Mar 7, 2022 Form 4 Insider Report for Rani Therapeutics Holdings, Inc. (RANI)

Role: Director
Signature: /s/ Josh Seidenfeld, Attorney-in-Fact for Mir A. Imran
Stock symbol: RANI
Transactions as of: Mar 7, 2022
Transactions value $: $0
Form type: 4
Date filed: 3/10/2022, 07:12 PM
Previous filing: Feb 7, 2022
Next filing: May 27, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RANI	Class B Common Stock	Conversion of derivative security	$0	-2.31M	-9.25%	$0.00	22.7M	Mar 7, 2022	See footnote.	F1, F3
transaction	RANI	Class A Common Stock	Conversion of derivative security	$0	+2.31M	+3411.01%	$0.00	2.38M	Mar 7, 2022	See footnote.	F1, F4
transaction	RANI	Class A Common Stock	Other	$0	-2.23M	-93.78%	$0.00	148K	Mar 7, 2022	See footnote.	F2, 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	RANI	Class A Common LLC Units	Conversion of derivative security	$0	-2.31M	-9.25%	$0.00	22.7M	Mar 7, 2022	Class A Common Stock	2.31M	$0.00	See footnote.	F1, F6

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

Explanation of Responses:

Id	Content
F1	Pursuant to the terms of the Fifth Amended and Restated LLC Agreement between Rani Therapeutics, LLC, a direct subsidiary of the Issuer, and the holders of its Common LLC Units ("LLC Units"), InCube Ventures II, L.P. and Rani Investment Corp. elected to exchange on a one-for-one basis the LLC Units and redeem the corresponding number of shares of Class B Common Stock of the Issuer ("Class B Shares") for newly-issued shares of Class A Common Stock of the Issuer ("Class A Shares").
F2	InCube Ventures II, L.P. distributed these shares to its limited partners on a pro rata basis, for no consideration
F3	The Reporting Person is a General Partner of InCube Ventures II, L.P. and Rani Investment Corp. Represents 2,229,238 Class B Shares previously held by InCube Ventures II, L.P. and 80,252 Class B Shares previously held by Rani Investment Corp. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
F4	The Reporting Person is a General Partner of InCube Ventures II, L.P. and Rani Investment Corp. Represents 2,229,238 Class A Shares held by InCube Ventures II, L.P. and 80,252 Class A Shares held by Rani Investment Corp. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
F5	The Reporting Person is a General Partner of InCube Ventures II, L.P. Represents 2,229,238 Class A Shares previously held by InCube Ventures II, L.P. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
F6	The Reporting Person is a General Partner of InCube Ventures II, L.P. and Rani Investment Corp. Represents 2,229,238 LLC Units previously held by InCube Ventures II, L.P. and 80,252 LLC Units previously held by Rani Investment Corp. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.