SCHULER JACK W - 02 Aug 2022 Form 4 Insider Report for SOLENO THERAPEUTICS INC (SLNO)

Role
10%+ Owner
Signature
/s/ Jack W. Schuler
Issuer symbol
SLNO
Transactions as of
02 Aug 2022
Net transactions value
-$487,962
Form type
4
Filing time
14 Oct 2022, 19:11:25 UTC
Previous filing
22 Jun 2022
Next filing
09 Aug 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SLNO Common Stock Sale $901 -353 -0.05% $2.55 646,836 02 Aug 2022 See footnote F1, F2
transaction SLNO Common Stock Sale $6,389 -2,520 -0.39% $2.54 644,316 03 Aug 2022 See footnote F1, F2, F3
transaction SLNO Common Stock Sale $12,551 -5,103 -0.79% $2.46 639,213 04 Aug 2022 See footnote F1, F2, F4
transaction SLNO Common Stock Sale $16,894 -6,696 -1% $2.52 632,517 05 Aug 2022 See footnote F1, F2, F5
transaction SLNO Common Stock Sale $18,014 -6,824 -1.1% $2.64 625,693 08 Aug 2022 See footnote F1, F2, F6
transaction SLNO Common Stock Sale $21,184 -8,006 -1.3% $2.65 617,687 10 Aug 2022 See footnote F1, F2, F7
transaction SLNO Common Stock Sale $7,264 -2,675 -0.43% $2.72 615,012 11 Aug 2022 See footnote F1, F2, F8
transaction SLNO Common Stock Sale $44,238 -16,667 -2.7% $2.65 598,345 12 Aug 2022 See footnote F1, F2, F9
transaction SLNO Common Stock Sale $156,378 -53,333 -8.9% $2.93 545,012 15 Aug 2022 See footnote F1, F2, F10
transaction SLNO Common Stock Sale $22,245 -7,718 -1.4% $2.88 537,294 16 Aug 2022 See footnote F1, F2, F11
transaction SLNO Common Stock Sale $15,105 -5,212 -0.97% $2.90 532,082 17 Aug 2022 See footnote F1, F2, F12
transaction SLNO Common Stock Sale $30,372 -10,833 -2% $2.80 521,249 18 Aug 2022 See footnote F1, F2, F13
transaction SLNO Common Stock Sale $21,493 -7,876 -1.5% $2.73 513,373 19 Aug 2022 See footnote F1, F2, F14
transaction SLNO Common Stock Sale $12,231 -4,571 -0.89% $2.68 508,802 22 Aug 2022 See footnote F1, F2, F15
transaction SLNO Common Stock Sale $454 -173 -0.03% $2.62 508,629 23 Aug 2022 See footnote F1, F2, F16
transaction SLNO Common Stock Sale $27,231 -10,888 -2.1% $2.50 497,741 24 Aug 2022 See footnote F1, F2, F17
transaction SLNO Common Stock Sale $20,345 -8,394 -1.7% $2.42 489,347 25 Aug 2022 See footnote F1, F2, F18
transaction SLNO Common Stock Sale $54,675 -22,681 -4.6% $2.41 466,666 26 Aug 2022 See footnote F1, F2, F19
holding SLNO Common Stock 527,453 02 Aug 2022 See footnote F1, F20

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 Warrant (right to buy) 10,103 02 Aug 2022 Common Stock 10,103 $30.00 See footnote F2, F21
holding SLNO Warrant (right to buy) 266,666 02 Aug 2022 Common Stock 266,666 $4.50 See footnote F20, F21
* 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 (the "Stock Split").
F2 The securities are held by the Jack W. Schuler Living Trust, for which the Reporting Person serves as Trustee.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.5238 to $2.5463, which sale prices reflect the Stock Split. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (3) through (19) to this Form 4.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.433 to $2.5305, which sale prices reflect the Stock Split.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.4765 to $2.535, which sale prices reflect the Stock Split.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.574 to $2.685, which sale prices reflect the Stock Split.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.61 to $2.7285, which sale prices reflect the Stock Split.
F8 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.715 to $2.7165, which sale prices reflect the Stock Split.
F9 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.58 to $2.6955, which sale prices reflect the Stock Split.
F10 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.85 to $3.03, which sale prices reflect the Stock Split.
F11 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.85 to $2.964, which sale prices reflect the Stock Split.
F12 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.8155 to $2.9685, which sale prices reflect the Stock Split.
F13 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.775 to $2.9895, which sale prices reflect the Stock Split.
F14 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.7015 to $2.7510, which sale prices reflect the Stock Split.
F15 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.598 to $2.736, which sale prices reflect the Stock Split.
F16 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.6175 to $2.6228, which sale prices reflect the Stock Split.
F17 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.4405 to $2.535, which sale prices reflect the Stock Split.
F18 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.40 to $2.4735, which sale prices reflect the Stock Split.
F19 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.40 to $2.4495, which sale prices reflect the Stock Split.
F20 The securities are held by the Schuler Education Foundation, for which the Reporting Person serves as President.
F21 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.

Remarks:

The aggregate of 180,523 shares sold from August 2, 2022 through August 26, 2022 (which share amount reflects the 1-for-15 reverse stock split effected August 26, 2022 (the "Stock Split")) are matchable under Section 16(b) of the Securities Exchange Act of 1934, as amended, with a purchase of shares by the Jack W. Schuler Living Trust that occurred on March 31, 2022. As each post-Stock Split per share price at which the 180,523 shares were sold is lower in each instance than the post-Stock Split per share price of the shares purchased on March 31, 2022, there are no profits to disgorge to the Issuer.