Scott Terrillion - Feb 25, 2022 Form 4 Insider Report for Cara Therapeutics, Inc. (CARA)

Role: Sec'y; Chief Compliance & G.C.
Signature: /s/ Darren DeStefano, Attorney-in-Fact
Stock symbol: CARA
Transactions as of: Feb 25, 2022
Transactions value $: -$20,292
Form type: 4
Date filed: 3/1/2022, 03:19 PM
Previous filing: Dec 21, 2021
Next filing: Mar 4, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CARA	Common Stock	Award	$0	+20K	+24.27%	$0.00	102K	Feb 25, 2022	Direct	F1
transaction	CARA	Common Stock	Sale	-$20.3K	-1.97K	-1.93%	$10.29	100K	Feb 25, 2022	Direct	F2
transaction	CARA	Common Stock	Award	$0	+5.33K	+5.31%	$0.00	106K	Feb 28, 2022	Direct	F3

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	CARA	Employee Stock Option (Right to Buy)	Award	$0	+40K		$0.00	40K	Feb 25, 2022	Common Stock	40K	$10.46	Direct	F4

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

Explanation of Responses:

Id	Content
F1	Represents the number of shares underlying restricted stock units ("RSUs"). Each RSU represents the contingent right to receive one share of common stock of the Issuer. The RSUs vest in three equal annual installments on each of February 25, 2023, February 25, 2024 and February 25, 2025, in each case, subject to the Reporting Person's continued service (as that term is defined in the Issuer's 2014 Equity Incentive Plan) as of each such date.
F2	This sale was effected pursuant to a "sell to cover" arrangement adopted by the Reporting Person in accordance with Rule 10b5-1 on September 6, 2018 to satisfy the tax withholding obligations triggered by the vesting of RSUs reported in the Form 4 filed with the Securities and Exchange Commission on August 26, 2021, and does not represent a discretionary trade by the Reporting Person.
F3	Represents the number of shares that vested under a performance-based restricted stock unit award (the "RSU") based on the Issuer's satisfaction of certain performance criteria of the award. In light of the performance-based vesting conditions of the award, such shares were not reportable under Section 16 until vesting was determined, which occurred on February 28, 2022. The vested shares represents the last of three possible vesting events of the total number of shares subject to the award. Each RSU represents the contingent right to receive one share of common stock of the Issuer.
F4	The shares shall vest and become exercisable in a series of 48 successive equal monthly installments beginning on March 25, 2022, in each case subject to the Reporting Person's continued service as of each such date.