Elly Ryu - Mar 2, 2023 Form 4 Insider Report for Sesen Bio, Inc. (CARM)

Role: Principal Accounting Officer
Signature: /s/ Mark R. Sullivan, as attorney-in-fact
Stock symbol: CARM
Transactions as of: Mar 2, 2023
Transactions value $: -$10,149
Form type: 4
Date filed: 3/6/2023, 07:44 PM
Previous filing: Feb 23, 2023
Next filing: Apr 6, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CARM	Common Stock	Sale	-$10.1K	-17.3K	-10.42%	$0.59^*	149K	Mar 2, 2023	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of shares of common stock pursuant to a restricted stock unit award granted on February 18, 2022, which vested in connection the approval by Issuer's shareholders of the reverse merger transaction between the Issuer and Carisma Therapeutics, Inc. The sale is mandated by the Issuer's election to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.
F2	The Reporting Person hereby undertakes to provide, upon request, to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, full information regarding the number of shares sold at the price set forth above.

Content

The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of shares of common stock pursuant to a restricted stock unit award granted on February 18, 2022, which vested in connection the approval by Issuer's shareholders of the reverse merger transaction between the Issuer and Carisma Therapeutics, Inc. The sale is mandated by the Issuer's election to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.

The Reporting Person hereby undertakes to provide, upon request, to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, full information regarding the number of shares sold at the price set forth above.