Anthony L. Arnerich - Jul 27, 2022 Form 4 Insider Report for VAPOTHERM INC (VAPO)

Role: Director
Signature: /s/ Adrain Bryant, as Attorney In Fact
Stock symbol: VAPO
Transactions as of: Jul 27, 2022
Transactions value $: $0
Form type: 4
Date filed: 8/4/2022, 04:17 PM
Previous filing: Jun 14, 2022
Next filing: Aug 10, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	VAPO	Common Stock						48.9K	Jul 27, 2022	By Christine A. Arnerich Trust
holding	VAPO	Common Stock						53.4K	Jul 27, 2022	By Anthony L. Arnerich Trust
holding	VAPO	Common Stock						22.6K	Jul 27, 2022	Direct	F1
holding	VAPO	Common Stock						1.19M	Jul 27, 2022	By 3x5 Partners, LLC	F2, F3

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	VAPO	Stock Option (right to buy)	Award	$0	+8.72K		$0.00	8.72K	Jul 27, 2022	Common Stock	8.72K	$2.31	Direct	F4

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

Explanation of Responses:

Id	Content
F1	Includes 5,000 shares held by the Reporting Person's IRA.
F2	Consists of (i) 7,885 shares held by Arnerich 3x5 Special Opportunity Managers, L.P., of which 3x5 Partners, LLC is the general manager, (ii) 790,754 shares directly held by Vapotherm Investors, LLC, and (iii) 394,982 shares directly held by 3x5 Special Opportunity Fund, L.P.
F3	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.
F4	This option was granted under the Vapotherm, Inc.'s 2018 Equity Incentive Plan (as amended from time to time) and will vest in full on the earlier of the first anniversary of the date of grant or the Issuer's 2023 annual meeting of stockholders, subject to the Reporting Person's continued service as a director of the Issuer through the vesting date.