Yuval Mika - 12 Apr 2023 Form 4 Insider Report for Orchestra BioMed Holdings, Inc. (OBIO)

Role
General Manager and Chief Technology Officer, Bioelectronic Therapies
Signature
/s/ Matthew R. Schob, Attorney-in-Fact
Issuer symbol
OBIO
Transactions as of
12 Apr 2023
Net transactions value
$0
Form type
4
Filing time
05 May 2023, 20:20:00 UTC
Previous filing
30 Jan 2023
Next filing
24 Jul 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OBIO Common Stock, par value $0.0001 per share ("Common Stock") Options Exercise +8,852 +22% 49,572 12 Apr 2023 Direct F1, F2

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 OBIO Right to Receive Earnout Shares Options Exercise -8,852 -50% 8,852 12 Apr 2023 Common Stock 8,852 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the Agreement and Plan of Merger, dated as of July 4, 2022 (and as subsequently amended) by and among the Issuer and certain other parties named therein (the "Merger Agreement"), the Reporting Person has the contingent right to receive, for no additional consideration, the Reporting Person's Pro Rata Portion (as such term is defined in the Merger Agreement ) of 8,000,000 shares of common stock of the Issuer (the "Earnout Shares") if, at any time from January 26, 2023 until January 26, 2028, the volume-weighted average price of the common stock of the Issuer is greater than or equal to (i) with respect to 4,000,000 Earnout Shares, $15.00 per share over any 20 trading days within any 30-trading day period (the "Initial Milestone Event") and (ii) with respect to 4,000,000 Earnout Shares, $20.00 per share over any 20 trading days within any 30-trading day period.
F2 The Initial Milestone Event occurred on April 12, 2023 and 8,852 shares of Common Stock were issued to the Reporting Person on April 19, 2023 in accordance with the Merger Agreement.

Remarks:

General Manager and Chief Technology Officer, Bioelectronic Therapies