Christopher Posner - Aug 3, 2023 Form 4 Insider Report for Cara Therapeutics, Inc. (CARA)

Signature
/s/Darren DeStefano, Attorney-in-Fact
Stock symbol
CARA
Transactions as of
Aug 3, 2023
Transactions value $
-$13,222
Form type
4
Date filed
8/4/2023, 05:21 PM
Previous filing
May 9, 2023
Next filing
Nov 3, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CARA Common Stock Sale -$13.2K -4.31K -2.5% $3.07 168K Aug 3, 2023 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 This sale was effected pursuant to a "sell to cover" arrangement adopted by the Reporting Person on November 2, 2022 in accordance with Rule 10b5-1 to satisfy the tax withholding obligations triggered by the vesting of restricted stock units and does not represent a discretionary trade by the Reporting Person.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.07 to $3.09, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.