Darius Kharabi - Mar 14, 2023 Form 4 Insider Report for Kala Pharmaceuticals, Inc. (KALA)

Role: CHIEF BUSINESS OFFICER
Signature: /s/ Eric Trachtenberg, Attorney-in-Fact
Stock symbol: KALA
Transactions as of: Mar 14, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/15/2023, 08:00 PM
Previous filing: Jun 2, 2023
Next filing: Jun 23, 2023

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	KALA	Stock Option (Right to Buy)	Award	$0	+432		$0.00	432	Mar 14, 2023	Common Stock	432	$68.50	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	On January 3, 2022, the Reporting Person was granted an option to purchase up to 1,620 shares of common stock of the Issuer. Specified portions of the options vest based on the level of achievement of specified performance metrics relating to financial, operational and scientific matters.
F2	On March 14, 2023, the Compensation Committee of the Issuer's Board of Directors determined that certain of the performance conditions were achieved at specific levels of achievement, resulting in vesting of the option as to 432 shares of common stock. The Compensation Committee has made no determination with respect to certain performance metrics, which could result in the further vesting of up to 324 shares of common stock underlying the option.

Content

On January 3, 2022, the Reporting Person was granted an option to purchase up to 1,620 shares of common stock of the Issuer. Specified portions of the options vest based on the level of achievement of specified performance metrics relating to financial, operational and scientific matters.

On March 14, 2023, the Compensation Committee of the Issuer's Board of Directors determined that certain of the performance conditions were achieved at specific levels of achievement, resulting in vesting of the option as to 432 shares of common stock. The Compensation Committee has made no determination with respect to certain performance metrics, which could result in the further vesting of up to 324 shares of common stock underlying the option.