Christian Gormsen - Feb 1, 2023 Form 4 Insider Report for Eargo, Inc. (EAR)

Role: President and CEO, Director
Signature: /s/ Christy La Pierre, Attorney-in-Fact for Christian Gormsen
Stock symbol: EAR
Transactions as of: Feb 1, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/3/2023, 03:05 PM
Previous filing: Nov 21, 2022
Next filing: Feb 22, 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	EAR	Stock Option (Right to Buy)	Award	$0	+325K		$0.00	325K	Feb 1, 2023	Common Stock	325K	$11.58	Direct	F1
transaction	EAR	Stock Option (Right to Buy)	Award	$0	+325K		$0.00	325K	Feb 1, 2023	Common Stock	325K	$11.58	Direct	F2

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

Explanation of Responses:

Id	Content
F1	The Stock Option vests and becomes exercisable as to 20% of the shares subject to the stock option on February 15, 2024 (the "Vesting Start Date"), with the remainder vesting in 16 equal quarterly installments thereafter until all of the shares subject to the stock option have vested and become exercisable on the fourth anniversary of the Vesting Start Date, so long as the Reporting Person remains an employee, consultant, director or officer of the Issuer through each such date.
F2	The Stock Option vests and becomes exercisable in full upon attainment of a 360-day VWAP (volume-weighted average price) of $20.00 for the Issuer's Common Stock on or prior to February 15, 2028, so long as the Reporting Person remains an employee, consultant, director or officer of the Issuer through such date.

Content

The Stock Option vests and becomes exercisable as to 20% of the shares subject to the stock option on February 15, 2024 (the "Vesting Start Date"), with the remainder vesting in 16 equal quarterly installments thereafter until all of the shares subject to the stock option have vested and become exercisable on the fourth anniversary of the Vesting Start Date, so long as the Reporting Person remains an employee, consultant, director or officer of the Issuer through each such date.

The Stock Option vests and becomes exercisable in full upon attainment of a 360-day VWAP (volume-weighted average price) of $20.00 for the Issuer's Common Stock on or prior to February 15, 2028, so long as the Reporting Person remains an employee, consultant, director or officer of the Issuer through such date.