Eric Bjerkholt - Jan 31, 2023 Form 4 Insider Report for CHINOOK THERAPEUTICS, INC. (KDNY)

Role: Chief Financial Officer
Signature: /s/ Kirk Schumacher, Attorney-in-Fact
Stock symbol: KDNY
Transactions as of: Jan 31, 2023
Transactions value $: -$71,357
Form type: 4
Date filed: 2/2/2023, 05:14 PM
Previous filing: Dec 2, 2022
Next filing: Feb 15, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KDNY	Common Stock	Options Exercise		+7.33K	+22.32%		40.2K	Jan 31, 2023	Direct	F1
transaction	KDNY	Common Stock	Sale	-$71.4K	-2.89K	-7.2%	$24.68	37.3K	Jan 31, 2023	Direct	F2

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	KDNY	Restricted Stock Unirt	Options Exercise	$0	-7.33K	-33.33%	$0.00	14.7K	Jan 31, 2023	Common Stock	7.33K		Direct	F3, F4
transaction	KDNY	Stock Option (Right to Buy)	Award	$0	+84K		$0.00	84K	Jan 31, 2023	Common Stock	84K	$25.27	Direct	F5
transaction	KDNY	Restricted Stock Unit	Award	$0	+21K		$0.00	21K	Jan 31, 2023	Common Stock	21K		Direct	F3, F6

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

Explanation of Responses:

Id	Content
F1	Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.
F2	Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
F3	Each RSU represents a contingent right to receive one (1) share of the Issuer's Common Stock upon settlement.
F4	The RSUs vests as to one-third (1/3) of the total restricted stock units in equal annual installments beginning on January 31, 2023, until fully vested, subject to the reporting person's provision of service to the Issuer on each vesting date.
F5	The stock option vests as to 25% of the total shares on January 31, 2024, and thereafter vests as to 1/48 of the total shares monthly until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
F6	The RSUs vests as to one-third (1/3) of the total restricted stock units in equal annual installments beginning on January 31, 2024, until fully vested, subject to the reporting person's provision of service to the Issuer on each vesting date.