Montgomery Herbert D - Aug 27, 2021 Form 4 Insider Report for Kindred Biosciences, Inc. (KIN)

Role: Director
Signature: /s/ Herbert Montgomery
Stock symbol: KIN
Transactions as of: Aug 27, 2021
Transactions value $: -$602,124
Form type: 4
Date filed: 8/30/2021, 03:20 PM

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	KIN	Stock Option (right to buy)	Disposed to Issuer	-$158K	-27.5K	-100%	$5.73	0	Aug 27, 2021	Common Stock	27.5K	$3.52	Direct	F1
transaction	KIN	Stock Option (right to buy)	Disposed to Issuer	-$17.1K	-3.35K	-100%	$5.11	0	Aug 27, 2021	Common Stock	3.35K	$4.14	Direct	F2
transaction	KIN	Stock Option (right to buy)	Disposed to Issuer	-$142K	-49.9K	-100%	$2.85	0	Aug 27, 2021	Common Stock	49.9K	$6.40	Direct	F3
transaction	KIN	Stock Option (right to buy)	Disposed to Issuer	-$37.5K	-75K	-100%	$0.50^*	0	Aug 27, 2021	Common Stock	75K	$8.75	Direct	F4
transaction	KIN	Stock Option (right to buy)	Disposed to Issuer	$0	-51.5K	-100%	$0.00^*	0	Aug 27, 2021	Common Stock	51.5K	$9.91	Direct	F5
transaction	KIN	Stock Option (right to buy)	Disposed to Issuer	$0	-51.5K	-100%	$0.00^*	0	Aug 27, 2021	Common Stock	51.5K	$9.84	Direct	F6
transaction	KIN	Stock Option (right to buy)	Disposed to Issuer	-$248K	-51.5K	-100%	$4.81	0	Aug 27, 2021	Common Stock	51.5K	$4.44	Direct	F7

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

Montgomery Herbert D is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	This option provided for vesting in four equal quarterly installments from the option grant date. This option was cancelled pursuant to the agreement and plan of merger, dated as of June 15, 2021, by and among the Elanco Animal Health Incorporated, Knight Merger Sub, Inc., and Kindred Biosciences, Inc. (the "Merger Agreement") in exchange for a cash payment of $157,575.00, representing the difference between the per share exercise price of the option and the merger consideration of $9.25 per share.
F2	This option provided for vesting in four equal quarterly installments from the option grant date. This option was cancelled pursuant to the Merger Agreement in exchange for a cash payment of $17,118.50, representing the difference between the per share exercise price of the option and the merger consideration of $9.25 per share.
F3	This option provided for vesting in four equal quarterly installments from the option grant date. This option was cancelled pursuant to the Merger Agreement in exchange for a cash payment of $142,215.00, representing the difference between the per share exercise price of the option and the merger consideration of $9.25 per share.
F4	This option provided for vesting in four equal quarterly installments from the option grant date. This option was cancelled pursuant to the Merger Agreement in exchange for a cash payment of $37,500.00, representing the difference between the per share exercise price of the option and the merger consideration of $9.25 per share.
F5	This option provided for vesting in four equal quarterly installments from the option grant date. This option was cancelled pursuant to the Merger Agreement in exchange for no consideration.
F6	This option provided for vesting in four equal quarterly installments from the option grant date. This option was cancelled pursuant to the Merger Agreement in exchange for no consideration.
F7	This option provided for vesting in four equal quarterly installments from the option grant date. Pursuant to the Merger Agreement, the unvested portion of this option was subject to acceleration of vesting. This option was cancelled pursuant to the Merger Agreement in exchange for a cash payment of $247,715.00, representing the difference between the per share exercise price of the option and the merger consideration of $9.25 per share.