Leslie Trigg - May 3, 2023 Form 4 Insider Report for Outset Medical, Inc. (OM)

Role
Chair and CEO, Director
Signature
By: John L Brottem For: Leslie Trigg
Stock symbol
OM
Transactions as of
May 3, 2023
Transactions value $
-$638,197
Form type
4
Date filed
5/5/2023, 06:11 PM
Previous filing
Mar 8, 2023
Next filing
May 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OM Common Stock Options Exercise $82.2K +20K +4.85% $4.11 432K May 3, 2023 Direct F1
transaction OM Common Stock Sale -$400K -20K -4.62% $20.01* 412K May 3, 2023 Direct F1, F2
transaction OM Common Stock Options Exercise $39K +9.49K +2.3% $4.11 422K May 3, 2023 Direct F1
transaction OM Common Stock Sale -$190K -9.49K -2.25% $20.00 412K May 3, 2023 Direct F1
transaction OM Common Stock Options Exercise $40.8K +10.5K +2.55% $3.88 423K May 3, 2023 Direct F1
transaction OM Common Stock Sale -$210K -10.5K -2.48% $20.00 412K May 3, 2023 Direct F1
holding OM Common Stock 8.77K May 3, 2023 Trigg Family Trust

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 OM Performance Options (right to buy) Options Exercise $0 -10.5K -100% $0.00* 0 May 3, 2023 Common Stock 10.5K $3.88 Direct F1, F3
transaction OM Performance Options (right to buy) Options Exercise $0 -20K -17.4% $0.00 94.9K May 3, 2023 Common Stock 20K $4.11 Direct F1, F4
transaction OM Performance Options (right to buy) Options Exercise $0 -9.49K -10% $0.00 85.4K May 3, 2023 Common Stock 9.49K $4.11 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The sales reported in this Form 4 were effected pursuant to a Rule 10b51 Trading Plan adopted by the reporting person on February 23, 2023.
F2 The price reported in Column 4 is a weighted average price. The 20,000 shares of common stock of the Issuer were sold in multiple transactions at prices ranging from: $20.00-$20.03. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 In March 2021, following the expiration of the lock-up period in connection with our initial public offering, the applicable performance and market-based vesting conditions were met and the shares underlying this stock option award became fully vested.
F4 In March 2021, following the expiration of the lock-up period in connection with our initial public offering, the applicable performance and market-based vesting conditions were met and the shares underlying this stock option award became fully vested.