Patricia M. Drake - Jun 1, 2021 Form 4 Insider Report for Sesen Bio, Inc. (CARM)

Role: Chief Commercial Officer
Signature: /s/ Mark R. Sullivan, as attorney-in-fact
Stock symbol: CARM
Transactions as of: Jun 1, 2021
Transactions value $: $0
Form type: 4
Date filed: 6/3/2021, 06:45 PM
Next filing: Nov 12, 2021

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	CARM	Employee Stock Option (Right to Buy)	Award	$0	+1M		$0.00	1M	Jun 1, 2021	Common Stock	1M	$3.87	Direct	F1

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

Explanation of Responses:

Id	Content
F1	25% of the shares subject to such option shall vest on the first anniversary of the date of grant of the option and an additional 6.25% of the shares underlying the option shall vest at the end of each successive three-month period thereafter until the fourth anniversary of the date of grant of the option. Based on market analysis by Radford of public, pre-commercial biopharmaceutical companies, the compensation committee of Sesen Bio, Inc ("the Company"), recommended to the Company's board of directors, and the board of directors approved, the grant to the reporting person.

Content

25% of the shares subject to such option shall vest on the first anniversary of the date of grant of the option and an additional 6.25% of the shares underlying the option shall vest at the end of each successive three-month period thereafter until the fourth anniversary of the date of grant of the option. Based on market analysis by Radford of public, pre-commercial biopharmaceutical companies, the compensation committee of Sesen Bio, Inc ("the Company"), recommended to the Company's board of directors, and the board of directors approved, the grant to the reporting person.