Tom Frohlich - Oct 6, 2021 Form 4 Insider Report for CHINOOK THERAPEUTICS, INC. (KDNY)

Role: Chief Operating Officer
Signature: /s/ Kirk Schumacher, Attorney-in-Fact
Stock symbol: KDNY
Transactions as of: Oct 6, 2021
Transactions value $: -$91,021
Form type: 4
Date filed: 10/8/2021, 06:51 PM
Previous filing: Sep 28, 2021
Next filing: Nov 9, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KDNY	Common Stock	Options Exercise		+13.6K	+8.85%		167K	Oct 6, 2021	Direct	F1
transaction	KDNY	Common Stock	Tax liability	-$91K	-7.36K	-4.41%	$12.37	160K	Oct 6, 2021	Direct	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	KDNY	Restricted Stock Units (RSU)	Options Exercise	$0	-13.6K	-33.33%	$0.00	27.2K	Oct 6, 2021	Common Stock	13.6K		Direct	F3, F4

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

Explanation of Responses:

Id	Content
F1	Restricted stock units convert into common stock on a one-for-one basis.
F2	Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
F3	Each restricted stock unit represents a contingent right to receive one share of Issuer's common stock.
F4	The RSUs vests as to one-third (1/3) of the total restricted stock units in equal annual installments beginning on October 6, 2021, until fully vested subject to the reporting person's provision of service to the Issuer on each vesting date.