Hong Yu - Dec 7, 2022 Form 4 Insider Report for Biostage, Inc. (BSTG)

Role: PRESIDENT
Signature: /s/ Chad Porter, Attorney-in-Fact
Stock symbol: BSTG
Transactions as of: Dec 7, 2022
Transactions value $: $43
Form type: 4
Date filed: 12/9/2022, 04:21 PM
Previous filing: May 20, 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BSTG	Common Stock	Exercise of in-the-money or at-the-money derivative security	$600K	+300K	+4889.98%	$2.00	306K	Dec 7, 2022	The spouse of the reporting person
transaction	BSTG	Common Stock	Sale	-$600K	-83.7K	-27.33%	$7.17	222K	Dec 7, 2022	The spouse of the reporting person	F1
holding	BSTG	Common Stock						44.5K	Dec 7, 2022	Direct

Showing 1 to 3 of 3 entries

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	BSTG	Warrants (right to buy)	Exercise of in-the-money or at-the-money derivative security	$0	-300K	-100%	$0.00^*	0	Dec 7, 2022	Common Stock	300K	$2.00	The spouse of the reporting person	F1

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

Explanation of Responses:

Id	Content
F1	On December 7, 2022, the Spouse of the Reporting Person exercised a warrant to purchase 300,000 shares of common stock for $2 per share. The Spouse of the Reporting Person paid the exercise price on a cashless basis, resulting in Biostage's withholding of 83,676 shares to pay the exercise price based on the daily VWAP of $7.1706, and issuing the remaining 216,324 shares of common stock.