Kathleen Borthwick - 28 Jul 2023 Form 3 Insider Report for Passage BIO, Inc. (PASG)

Role
SVP, Interim CFO
Signature
/s/ Edgar Cale, Attorney-in-Fact
Issuer symbol
PASG
Transactions as of
28 Jul 2023
Net transactions value
$0
Form type
3
Filing time
28 Jul 2023, 18:33:18 UTC
Next filing
03 Jan 2024
SEC
View on sec.gov

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 PASG Employee Stock Option (right to buy) 28 Jul 2023 Common Stock 56,000 $6.75 Direct F1
holding PASG Employee Stock Option (right to buy) 28 Jul 2023 Common Stock 20,867 $2.29 Direct F2
holding PASG Employee Stock Option (right to buy) 28 Jul 2023 Common Stock 55,000 $1.08 Direct F3
holding PASG Restricted Stock Units 28 Jul 2023 Common Stock 12,000 $0.000000 Direct F4, F5, F6
holding PASG Restricted Stock Units 28 Jul 2023 Common Stock 30,000 $0.000000 Direct F4, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The stock option vested as to 25% of the total shares on December 15, 2022, 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.
F2 1/36 of the total shares underlying the award vested on July 13, 2022, and an additional 1/36 of the total shares underlying the award will vest on each monthly anniversary thereafter until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
F3 1/48 of the total shares underlying the award vested on April 15, 2023, and an additional 1/48 of the total shares underlying the award will vest on each monthly anniversary thereafter until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
F4 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock upon vesting.
F5 1/3 of the RSUs will vest on February 10, 2024 and 2/3 of the RSUs will vest on February 10, 2025, subject to the Reporting Person's continued service to the Issuer on each vesting date.
F6 RSUs do not expire; they either vest or are canceled prior to the vesting date.
F7 100% of the RSUs will vest on December 31, 2023, subject to the Reporting Person's provision of service to the Issuer on such vesting date.