Phillip M. Schneider - Nov 8, 2022 Form 4 Insider Report for ARS Pharmaceuticals, Inc. (SPRY)

Role
Director
Signature
/s/ Kathleen Scott, Attorney-in-Fact
Stock symbol
SPRY
Transactions as of
Nov 8, 2022
Transactions value $
$0
Form type
4
Date filed
11/10/2022, 05:00 PM
Previous filing
May 31, 2022
Next filing
May 26, 2023

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 +154K 154K Nov 8, 2022 Common Stock 154K $0.84 Direct F1, F2, F3
transaction SPRY Stock option (right to buy) Award +76.8K 76.8K Nov 8, 2022 Common Stock 76.8K $1.44 Direct F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 25% of the shares subject to the option vest on the one year anniversary of the vesting commencement date and the balance of the shares vest in a series of thirty-six (36) successive equal monthly installments measured from the first anniversary of the vesting commencement date.
F2 Received in exchange for a stock option to acquire 130,000 shares of common stock of ARS Pharmaceuticals, Inc. ("ARS") with the exercise price of $0.99 per share pursuant to an Agreement and Plan of Merger and Reorganization by and among ARS, the Issuer and Sabre Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub"), as amended (the "Merger Agreement").
F3 Under the terms of the Merger Agreement, on November 8, 2022, Merger Sub merged with and into ARS (the "Merger"), with ARS surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of ARS common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Silverback Therapeutics, Inc. to ARS Pharmaceuticals, Inc.
F4 The shares subject to the option vest in a series of thirty-six (36) successive equal monthly installments measured from the vesting commencement date.
F5 Received in exchange for a stock option to acquire 65,000 shares of common stock of ARS with the exercise price of $1.70 per share pursuant to the Merger Agreement.