C. Daniel Myers - May 31, 2023 Form 4 Insider Report for Kala Pharmaceuticals, Inc. (KALA)

Role
Director
Signature
/s/ Eric Trachtenberg, Attorney-in-Fact
Stock symbol
KALA
Transactions as of
May 31, 2023
Transactions value $
$0
Form type
4
Date filed
6/2/2023, 08:00 PM
Previous filing
Jan 6, 2023
Next filing
Jun 23, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KALA Common Stock Award +1.64K 1.64K May 31, 2023 Direct F1, F2

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) Disposed to Issuer -840 -100% 0 May 31, 2023 Common Stock 840 $110.50 Direct F1, F3, F4
transaction KALA Stock Option (right to buy) Disposed to Issuer -800 -100% 0 May 31, 2023 Common Stock 800 $18.00 Direct F1, F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 31, 2023, the issuer canceled, pursuant to the issuer's option exchange program, all outstanding unexercised options granted to the reporting person. In exchange, the reporting person received (i) in the case of the canceled options that were fully vested, a grant of 443 restricted stock units (the "RSUs") that vest over two years, with 50% of such RSUs vesting on May 31, 2024 and 50% of such RSUs vesting on May 31, 2025 and (ii) in the case of the canceled options that were unvested, a grant of 1,197 RSUs that vest 100% on May 31, 2025, in each case, subject to the reporting person's continued service with the issuer. Each RSU represents a contingent right to receive one share of the issuer's common stock.
F2 Includes 1,640 unvested RSUs.
F3 The number of shares and exercise price reflect a 1-for-50 reverse stock split effected by the Issuer on October 20, 2022.
F4 The cancelled option was granted on October 15, 2021 and provided for vesting with respect to 1/3rd of the shares underlying the option on October 15, 2022 and as to an additional 1/36th of the shares underlying the option at the end of each successive one-month period thereafter until October 15, 2024.
F5 The cancelled option was granted on June 16, 2022 and provided for vesting as to 100% of the shares underlying the option on the earlier of (i) June 16, 2023 or (ii) the date of the first annual meeting following June 16, 2022.