Mark Thorpe - Aug 15, 2023 Form 4 Insider Report for Eargo, Inc. (EAR)

Role
Chief Accounting Officer
Signature
/s/ Christy La Pierre, Attorney-in-Fact for Mark Thorpe
Stock symbol
EAR
Transactions as of
Aug 15, 2023
Transactions value $
-$10
Form type
4
Date filed
8/17/2023, 04:09 PM
Previous filing
May 18, 2023
Next filing
Nov 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EAR Common Stock Sale -$10 -3 -0.28% $3.23 1.06K Aug 17, 2023 Direct F1

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 +35K $0.00 35K Aug 15, 2023 Common Stock 35K $3.31 Direct F2
transaction EAR Stock Option (Right to Buy) Award +20K 20K Aug 15, 2023 Common Stock 20K $3.31 Direct F2, F3
transaction EAR Stock Option (Right to Buy) Disposed to Issuer -20K -100% 0 Aug 15, 2023 Common Stock 20K $11.58 Direct F3, F4
transaction EAR Stock Option (Right to Buy) Award +20K 20K Aug 15, 2023 Common Stock 20K $3.31 Direct F3, F5
transaction EAR Stock Option (Right to Buy) Disposed to Issuer -20K -100% 0 Aug 15, 2023 Common Stock 20K $11.58 Direct F3, F6
transaction EAR Stock Option (Right to Buy) Award +101 101 Aug 15, 2023 Common Stock 101 $3.31 Direct F3, F7
transaction EAR Stock Option (Right to Buy) Disposed to Issuer -101 -100% 0 Aug 15, 2023 Common Stock 101 $1,026.60 Direct F3, F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the number of shares of Common Stock that were sold to satisfy tax withholding requirements on vesting of restricted stock units pursuant to the Issuer's automatic sell to cover program, and does not represent a discretionary sale by the Reporting Person.
F2 The Stock Option vests and becomes exercisable in 8 equal quarterly installments, with the first installment vesting on November 15, 2023, so long as the Reporting Person remains an employee, consultant, director or officer of the Issuer through each such date.
F3 The Issuer cancelled the Stock Option in exchange for a new option having a lower exercise price.
F4 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.
F5 The Stock Option vests and becomes exercisable in 8 equal quarterly installments, with the first installment vesting on November 15, 2023, provided, that, any unvested portion of the Stock Option shall vest and become exercisable upon attainment of a 360-day VWAP (volume weighted average price) of $20.00 for the Issuer's Common Stock, in either case, so long as the Reporting Person remains an employee, consultant, director or officer of the Issuer through each such date.
F6 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.
F7 The Stock Option shall vest and become exercisable in 16 quarterly installments commencing on February 15, 2021 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.
F8 On January 17, 2023, the Issuer effected a 1-for-20 reverse stock split of its Common Stock (the "Reverse Stock Split"). These securities reflect the Reverse Stock Split.