Shawn Leland - Jun 24, 2021 Form 3 Insider Report for Elevation Oncology, Inc. (ELEV)

Role: President, CEO, Director
Signature: /s/ Shawn Leland
Stock symbol: ELEV
Transactions as of: Jun 24, 2021
Transactions value $: $0
Form type: 3
Date filed: 6/24/2021, 06:11 PM
Next filing: Feb 16, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	ELEV	Common Stock						493K	Jun 24, 2021	Direct

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	ELEV	Employee Stock Option (Right to Buy)							Jun 24, 2021	Common Stock	354K	$0.43	Direct	F1
holding	ELEV	Employee Stock Option (Right to Buy)							Jun 24, 2021	Common Stock	539K	$1.36	Direct	F2
holding	ELEV	Employee Stock Option (Right to Buy)							Jun 24, 2021	Common Stock	99.2K	$1.36	Direct	F3

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

Explanation of Responses:

Id	Content
F1	The stock option vested as to 25% of the total shares on July 1, 2020, and thereafter vests as to 1/48 of the total shares monthly until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date and is subject to acceleration in the event of a change in control of the Issuer.
F2	The stock option vests as to 25% of the total shares on November 10, 2021, and thereafter vests as to 1/48 of the total shares monthly until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date and is subject to acceleration in the event of a change in control of the Issuer.
F3	25% of the total number of shares shall vest and become exercisable upon the earlier to occur of (i) the Issuer's first underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, provided that such offering results in at least $80,000,000 of gross proceeds to the Issuer, and (ii) the dosing of the first patient in a registrational trial for a new product of the Issuer (the "Milestone Vesting Date"), and 1/48 of the total number of shares shall vest and become exercisable on the corresponding day of each month thereafter, or on the last day of each month, to the extent each month thereafter does not have the corresponding day, until all of the shares have vested on the third anniversary of the Milestone Vesting Date, subject to the Reporting Person's provision of service to the Issuer on each vesting date and is subject to acceleration in the event of a change in control of the Issuer.