Peter A. Thompson - Jun 10, 2022 Form 4 Insider Report for Silverback Therapeutics, Inc. (SPRY)

Role: Director, 10%+ Owner
Signature: /s/ Jeffrey C. Pepe, Attorney-in-Fact
Stock symbol: SPRY
Transactions as of: Jun 10, 2022
Transactions value $: $0
Form type: 4
Date filed: 6/13/2022, 07:52 PM
Previous filing: May 20, 2022
Next filing: Jun 16, 2022

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	SPRY	Stock Option (right to buy)	Award	$0	+18K		$0.00	18K	Jun 10, 2022	Common Stock	18K	$4.18	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The shares subject to the option vest on the earlier of June 10, 2023 or the date of the Issuer's 2023 annual meeting of stockholders, which date has not been set by the Issuer's Board of Directors.
F2	Pursuant to an agreement with OrbiMed Advisors LLC and OrbiMed Capital GP VI LLC, the Reporting Person is obligated to transfer any securities issued under any such stock options or other awards, or the economic benefit thereof, to OrbiMed Advisors LLC and OrbiMed Capital GP VI LLC, which will in turn ensure that such securities or economic benefits are provided to OrbiMed Private Investments VI, LP.

Content

The shares subject to the option vest on the earlier of June 10, 2023 or the date of the Issuer's 2023 annual meeting of stockholders, which date has not been set by the Issuer's Board of Directors.

Pursuant to an agreement with OrbiMed Advisors LLC and OrbiMed Capital GP VI LLC, the Reporting Person is obligated to transfer any securities issued under any such stock options or other awards, or the economic benefit thereof, to OrbiMed Advisors LLC and OrbiMed Capital GP VI LLC, which will in turn ensure that such securities or economic benefits are provided to OrbiMed Private Investments VI, LP.