Mark S. Blumenkranz - Jun 22, 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
Jun 22, 2023
Transactions value $
$0
Form type
4
Date filed
6/23/2023, 08:00 PM
Previous filing
May 19, 2023
Next filing
Jul 13, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KALA Common Stock Award $0 +3.78K +55.59% $0.00 10.6K Jun 22, 2023 Direct F1, F2
transaction KALA Common Stock Award $0 +1.1K +10.39% $0.00 11.7K Jun 22, 2023 Direct F3, F4
holding KALA Common Stock 168K Jun 22, 2023 See footnote F5
holding KALA Common Stock 1.28K Jun 22, 2023 See footnote F6

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 +5.05K $0.00 5.05K Jun 22, 2023 Common Stock 5.05K $14.56 Direct F7
transaction KALA Stock Option (right to buy) Award $0 +2.5K $0.00 2.5K Jun 22, 2023 Common Stock 2.5K $14.56 Direct F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Grant of restricted stock units ("RSUs") under the Issuer's Amended and Restated 2017 Equity Incentive Plan. Each RSU represents a contingent right to receive one share of the Issuer's common stock. Subject to the reporting person's continued service, the RSUs will vest as to 1/3 of the shares underlying the RSUs on June 22, 2024, as to 1/3 of the shares underlying the RSUs on June 22, 2025 and as to the final 1/3 of shares underlying the RSUs on June 22, 2026.
F2 Includes 5,424 unvested RSUs.
F3 Grant of RSUs under the Issuer's Amended and Restated 2017 Equity Incentive Plan. Each RSU represents a contingent right to receive one share of the Issuer's common stock. Subject to the reporting person's continued service, the RSUs will vest as to 100% of the shares underlying the grant on the earlier of (i) June 22, 2024 or (ii) the date of the first annual meeting following June 22, 2023.
F4 Includes 6,524 unvested RSUs.
F5 These securities are held directly by Lagunita Biosciences, LLC ("Lagunita"). The reporting person is a managing partner of Lagunita and may be deemed to have beneficial ownership over the Lagunita Shares. The reporting person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
F6 These securities are held directly by Garland Investments, L.P. ("Garland"). The reporting person is a managing partner of Garland and may be deemed to have beneficial ownership over the Garland Shares. The reporting person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
F7 This option was granted on June 22, 2023 and vests over four years beginning on the vesting commencement date of June 22, 2023, with 25% of the shares underlying the option vesting on June 22, 2024, and an additional 1/48th the shares underlying the option vesting at the end of each successive one-month period thereafter.
F8 This option was granted on June 22, 2023 and vests as to 100% of the shares underlying the grant on the earlier of (i) June 22, 2024 or (ii) the date of the first annual meeting following June 22, 2023.