Anthony L. Arnerich - Jul 21, 2021 Form 4 Insider Report for VAPOTHERM INC (VAPO)

Role: Director
Signature: /s/ Adrain Bryant, attorney-in-fact
Stock symbol: VAPO
Transactions as of: Jul 21, 2021
Transactions value $: $0
Form type: 4
Date filed: 7/23/2021, 04:15 PM
Next filing: Dec 10, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VAPO	Common Stock	Award	$0	+5.39K	+36.81%	$0.00	20K	Jul 21, 2021	Direct	F1, F2
holding	VAPO	Common Stock						1.96M	Jul 21, 2021	By 3x5 Partners, LLC	F3, F4
holding	VAPO	Common Stock						2.98K	Jul 21, 2021	By Anthony L. Arnerich Trust

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This annual award in the form of restricted stock units was granted under the Vapotherm, Inc. 2018 Equity Incentive Plan pursuant to the terms of the Vapotherm, Inc. Amended and Restated Non-Employee Director Compensation Policy. The restricted stock units are eligible to vest in full on the earlier of the first anniversary of the date of grant or the Issuer's 2022 annual meeting of stockholders, subject to the Reporting Person's continued service as a director of the Issuer through the vesting date.
F2	Includes 5,000 shares held by the Reporting Person's IRA and 5,392 shares that will be issued over time subject to restricted stock units granted under the Vapotherm, Inc. 2018 Equity Incentive Plan.
F3	Consists of (i) 5,250 shares held by Arnerich 3x5 Special Opportunity Managers, L.P., of which 3x5 Partners, LLC is the general manager, (ii) 1,350,587 shares directly held by Vapotherm Investors, LLC and (iii) 604,974 shares directly held by 3x5 Special Opportunity Fund, L.P.
F4	The Reporting Person is a managing member of 3x5 Partners, LLC. 3x5 Partners, LLC is the managing member of Vapotherm Investors, LLC and a member of 3x5 Special Opportunity Partners, LLC, which is the general partner of 3x5 Special Opportunity Fund, L.P., and by virtue of these relationships 3x5 Partners, LLC may be deemed to indirectly beneficially own the shares directly held by Vapotherm Investors, LLC and 3x5 Special Opportunity Fund, L.P. As a managing member of 3x5 Partners, LLC the Reporting Person shares voting and dispositive power over such securities. The Reporting Person disclaims beneficial ownership, within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, of such securities except to the extent of his pecuniary interest therein.