Shao-Lee Lin - May 9, 2023 Form 4 Insider Report for ACELYRIN, Inc. (SLRN)

Role
Chief Executive Officer, Director
Signature
/s/ Mina Kim, Attorney-in-fact
Stock symbol
SLRN
Transactions as of
May 9, 2023
Transactions value $
-$8,324,950
Form type
4
Date filed
5/11/2023, 08:50 PM
Previous filing
May 4, 2023
Next filing
May 19, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SLRN Common Stock Conversion of derivative security +1.16M 1.16M May 9, 2023 See footnote F1, F2
transaction SLRN Class A Common Stock Other $0 -1.11M -100% $0.00* 0 May 9, 2023 Direct F3, F4
transaction SLRN Common Stock Other $0 +1.11M $0.00 1.11M May 9, 2023 Direct F3, F4
transaction SLRN Common Stock Tax liability -$8.32M -337K -30.45% $24.69 770K May 9, 2023 Direct F5, F6
transaction SLRN Class A Common Stock Other $0 -678K -100% $0.00* 0 May 9, 2023 See footnote F3, F7
transaction SLRN Common Stock Other $0 +678K $0.00 678K May 9, 2023 See footnote F3, F7
transaction SLRN Class A Common Stock Other $0 -355K -100% $0.00* 0 May 9, 2023 See footnote F3, F8
transaction SLRN Common Stock Other $0 +355K $0.00 355K May 9, 2023 See footnote F3, F8
transaction SLRN Class A Common Stock Other $0 -355K -100% $0.00* 0 May 9, 2023 See footnote F3, F9
transaction SLRN Common Stock Other $0 +355K $0.00 355K May 9, 2023 See footnote F3, F9
transaction SLRN Class A Common Stock Other $0 -350K -100% $0.00* 0 May 9, 2023 See footnote F3, F10
transaction SLRN Common Stock Other $0 +350K $0.00 350K May 9, 2023 See footnote F3, F10
transaction SLRN Class A Common Stock Other $0 -5.07K -100% $0.00* 0 May 9, 2023 See footnote F3, F11
transaction SLRN Common Stock Other $0 +5.07K $0.00 5.07K May 9, 2023 See footnote F3, F11

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 SLRN Series B Redeemable Convertible Preferred Stock Conversion of derivative security -978K -100% 0 May 9, 2023 Common Stock 978K See footnote F1, F2, F3
transaction SLRN Series C Redeemable Convertible Preferred Stock Conversion of derivative security -183K -100% 0 May 9, 2023 Common Stock 183K See footnote F1, F2, F3
transaction SLRN Employee Stock Option (right to buy) Other $0 -775K -100% $0.00* 0 May 9, 2023 Class A Common Stock 775K $18.00 Direct F3, F12
transaction SLRN Employee Stock Option (right to buy) Other $0 +775K $0.00 775K May 9, 2023 Common Stock 775K $18.00 Direct F3, F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of preferred stock is convertible into one share of Common Stock and has no expiration date. Immediately prior to the completion of the Issuer's initial public offering of Common Stock (the "IPO"), all shares of preferred stock automatically converted into shares of Common Stock.
F2 Shares held directly by Woodland Hills Partners LLC, for which the Reporting Person serves as a managing member.
F3 Each share of Class A Common Stock was reclassified into one share of Common Stock immediately prior to the completion of the IPO.
F4 Represents Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock upon settlement.
F5 Represents shares that have been withheld by the Issuer to satisfy the income tax withholding obligations in connection with the net settlement of RSUs, and not a discretionary sale by the Reporting Person. The Common Stock settled and RSUs held by the Reporting Person remain subject to the terms of a lock-up agreement by and between the Reporting Person and certain underwriters of the IPO.
F6 Represents 303,237 shares of Common Stock and 466,797 RSUs after the net settlement of vested RSUs into shares of Common Stock upon the completion of the IPO. The remaining RSUs will continue to settle into shares of Common Stock as they vest thereafter, subject to the Reporting Person's continued service.
F7 Shares held directly by Shao-Lee Lin, Trustee of the Shao-Lee Lin Trust u/a/d September 23, 2005, for which the Reporting Person serves as trustee.
F8 Shares held directly by Shao-Lee Lin 2020 Gift Trust Dtd 7/16/20, for which the Reporting Person's spouse serves as trustee.
F9 Shares held directly by Lin Family 2020 Gift Trust Dtd 7/16/20, for which the Reporting Person's spouse shares voting and investment power.
F10 Shares held directly by Susie Jun 2020 Gift Trust dtd 7/16/20, for which the Reporting Person serves as trustee.
F11 Shares held directly by Susie Jun, Trustee of the Susie Jun Trust U/A/D September 23, 2005, for which the Reporting Person's spouse serves as trustee.
F12 1/4 of the shares subject to the option vest on May 4, 2024, and 1/48 of the shares subject to the option vest in equal monthly installments thereafter, subject to the Reporting Person's continued service.