Samuel J. Reich - Feb 28, 2023 Form 4 Insider Report for SAB Biotherapeutics, Inc. (SABS)

Role: Executive Chairman, Director
Signature: /s/ Samuel J. Reich
Stock symbol: SABS
Transactions as of: Feb 28, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/2/2023, 08:18 AM
Previous filing: Sep 15, 2022
Next filing: Mar 16, 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	SABS	Warrants	Other	$0	-209K	-100%	$0.00^*	0	Feb 28, 2023	Common Stock	209K	$11.50	Via Big Cypress Holdings LLC	F1
transaction	SABS	Warrants	Other	$0	+9.97K		$0.00	9.97K	Feb 28, 2023	Common Stock	9.97K	$11.50	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Pro rata distribution by Big Cypress Holdings LLC to its members for which no consideration is being paid in connection with such distribution. The Reporting Person is a managing member of Big Cypress Holdings LLC, and as part of the distribution received 9,968 warrants of the issuer, which the Reporting Person previously had an indirect pecuniary interest.
F2	The Reporting Person received 9,968 warrants as part of the distribution, which the Reporting Person previously had an indirect pecuniary interest. Therefore, the transaction, which only changes the form of the Reporting Person's ownership without increasing or decreasing his pecuniary interest, is exempt from the reporting requirements of Section 16 pursuant to Rule 16a-13. Notwithstanding, the Reporting Person is reporting the acquisition on a voluntary basis.

Content

Pro rata distribution by Big Cypress Holdings LLC to its members for which no consideration is being paid in connection with such distribution. The Reporting Person is a managing member of Big Cypress Holdings LLC, and as part of the distribution received 9,968 warrants of the issuer, which the Reporting Person previously had an indirect pecuniary interest.

The Reporting Person received 9,968 warrants as part of the distribution, which the Reporting Person previously had an indirect pecuniary interest. Therefore, the transaction, which only changes the form of the Reporting Person's ownership without increasing or decreasing his pecuniary interest, is exempt from the reporting requirements of Section 16 pursuant to Rule 16a-13. Notwithstanding, the Reporting Person is reporting the acquisition on a voluntary basis.