Frank Litvack - Jan 3, 2022 Form 4 Insider Report for CAPRICOR THERAPEUTICS, INC. (CAPR)

Role: Director
Signature: /s/ Linda Marban, Attorney-in-Fact
Stock symbol: CAPR
Transactions as of: Jan 3, 2022
Transactions value $: -$1
Form type: 4
Date filed: 1/4/2022, 08:01 PM
Next filing: Jan 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CAPR	Common Stock	Options Exercise	$215K	+155K	+757.9%	$1.39	175K	Jan 3, 2022	Direct
transaction	CAPR	Common Stock	Tax liability	-$215K	-67.6K	-38.62%	$3.18	107K	Jan 3, 2022	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	CAPR	Stock Option (Right to Buy)	Options Exercise	$0	-155K	-100%	$0.00^*	0	Jan 3, 2022	Common Stock	155K	$1.39	Direct	F2
transaction	CAPR	Stock Option (Right to Buy)	Award	$0	+252K		$0.00	252K	Jan 3, 2022	Common Stock	252K	$3.18	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Represents a "net exercise" of outstanding stock options. These shares were withheld by the Issuer for payment of the exercise price, based on the closing market price of the Issuer's common stock on January 3, 2022 of $3.18. The options would otherwise expire on April 27, 2022, pursuant to their terms.
F2	This option was granted on April 27, 2012 and was previously reported as covering 1,545,435 shares at an exercise price of $0.37 per share, but was adjusted to reflect a 1-for-10 reverse stock split that occurred on June 4, 2019 and a share reprice to $1.39 per share that occurred on February 12, 2020.
F3	The shares vest 1/48th of the first day of each month, commencing February 1, 2022, until the stock option becomes fully vested and exercisable. The option is subject to early exercise and, therefore, all or any part of the option can be exercised at any time. If the reporting person elects to take advantage of the early exercise feature and purchase shares prior to the vesting of such shares, the shares will be deemed restricted stock and will be subject to a repurchase option in favor of the Issuer if the reporting person's service to the Issuer terminates prior to vesting.