James Mackaness - Aug 26, 2022 Form 4 Insider Report for SOLENO THERAPEUTICS INC (SLNO)

Role
Chief Financial Officer
Signature
/s/ James Mackaness
Stock symbol
SLNO
Transactions as of
Aug 26, 2022
Transactions value $
$0
Form type
4
Date filed
10/14/2022, 06:47 PM
Previous filing
Jul 29, 2022
Next filing
Jan 27, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding SLNO Common Stock 4.49K Aug 26, 2022 Direct F1

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 SLNO Employee stock option (right to buy) 20K Aug 26, 2022 Common Stock 20K $30.75 Direct F2, F3
holding SLNO Employee stock option (right to buy) 13K Aug 26, 2022 Common Stock 13K $5.10 Direct F2, F4
holding SLNO Employee stock option (right to buy) 20K Aug 26, 2022 Common Stock 20K $2.60 Direct F2, F5
holding SLNO Warrant (right to buy) 2.67K Aug 26, 2022 Common Stock 2.67K $4.50 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The number of shares beneficially owned reflects the 1-for-15 reverse stock split effected August 26, 2022.
F2 The per share exercise price and number of shares subject to the option reflect the 1-for-15 reverse stock split effected August 26, 2022.
F3 Twenty-five percent (25%) of the shares subject to the Option shall vest on the one year anniversary of November 11, 2020 (the "Vesting Commencement Date"), and one forty-eighth (1/48) of the total number of shares subject to the Option shall vest each month thereafter on the same day of the month as the Vesting Commencement Date (which is November 11, 2020), such that all of the shares subject to the Option will have vested as of the fourth anniversary of the Vesting Commencement Date, subject to the Reporting Person continuing to be a Service Provider through each such date. Following the initial twelve month term, if the Reporting Person is terminated without cause or his employment is voluntarily terminated for good reason within the period three month prior to through six months following a change of control then he will receive: 100% acceleration of shares subject to the option.
F4 One forty-eighth (1/48th) of the shares subject to the Option shall vest on the first month anniversary of January 1, 2022 (the "Vesting Commencement Date"), and one forty-eighth (1/48th) of the total number of shares subject to the Option shall vest each month thereafter on the same day of the month as the Vesting Commencement Date (and if there is no corresponding day, on the last day of the month), such that all of the shares subject to the Option will have vested as of the fourth anniversary of the Vesting Commencement Date, subject to the Reporting Person continuing to be a Service Provider through each such date.
F5 One fourth of the shares subject to the option shall vest on August 1, 2022 and each three-month anniversary thereafter, subject to the Reporting Person continuing to be a Service Provider through each such date.
F6 The per share exercise price and number of shares subject to the warrant reflect the 1-for-15 reverse stock split effected August 26, 2022.