Sofinnova Venture Partners X, L.P. - Jan 11, 2022 Form 4 Insider Report for CinCor Pharma, Inc. (CINC)

Role: 10%+ Owner
Signature: Sofinnova Venture Partners X, L.P., By /s/ Nathalie Auber, Attorney-in-Fact
Stock symbol: CINC
Transactions as of: Jan 11, 2022
Transactions value $: $5,200,000
Form type: 4
Date filed: 1/13/2022, 03:38 PM
Previous filing: Jan 6, 2022
Next filing: Feb 14, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CINC	Common Stock	Conversion of derivative security		+5.25M			5.25M	Jan 11, 2022	By Sofinnova Venture Partners X, L.P.	F1, F2
transaction	CINC	Common Stock	Purchase	$5.2M	+325K	+6.19%	$16.00	5.57M	Jan 11, 2022	By Sofinnova Venture Partners X, L.P.	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	CINC	Series A Preferred Stock	Conversion of derivative security	$0	-13.6M	-100%	$0.00^*	0	Jan 11, 2022	Common Stock	3.99M		By Sofinnova Venture Partners X, L.P.	F1, F2
transaction	CINC	Series B Preferred Stock	Conversion of derivative security	$0	-4.28M	-100%	$0.00^*	0	Jan 11, 2022	Common Stock	1.26M		By Sofinnova Venture Partners X, L.P.	F1, F2

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

Explanation of Responses:

Id	Content
F1	Each share of Series A Preferred Stock and Series B Preferred Stock automatically converted into shares of Common Stock immediately prior to the closing of the Issuer's initial public offering (the "IPO") for no additional consideration, on a 3.4:1 basis, and had no expiration date.
F2	The shares are directly held by Sofinnova Venture Partners X, L.P. ("SVP X"). Sofinnova Management X, L.L.C. ("SM X") is the general partner of SVP X. Dr. James I. Healy and Dr. Maha Katabi are managing members of SM X and may be deemed to share voting and investment power over the shares held by SVP X. Each of SM X and Dr. Katabi disclaims beneficial ownership of these shares except to the extent of its or her respective pecuniary interest therein. Dr. Healy is a director of the Issuer and files separate Section 16 reports.

Content

Each share of Series A Preferred Stock and Series B Preferred Stock automatically converted into shares of Common Stock immediately prior to the closing of the Issuer's initial public offering (the "IPO") for no additional consideration, on a 3.4:1 basis, and had no expiration date.

The shares are directly held by Sofinnova Venture Partners X, L.P. ("SVP X"). Sofinnova Management X, L.L.C. ("SM X") is the general partner of SVP X. Dr. James I. Healy and Dr. Maha Katabi are managing members of SM X and may be deemed to share voting and investment power over the shares held by SVP X. Each of SM X and Dr. Katabi disclaims beneficial ownership of these shares except to the extent of its or her respective pecuniary interest therein. Dr. Healy is a director of the Issuer and files separate Section 16 reports.