William H. Adkins - 29 Dec 2022 Form 4 Insider Report for Shuttle Pharmaceuticals Holdings, Inc. (SHPH)

Role
Former Director
Signature
/s/ William H. Adkins
Issuer symbol
SHPH
Transactions as of
29 Dec 2022
Net transactions value
-$1,597
Form type
4
Filing time
04 Jan 2023, 15:10:42 UTC
Previous filing
07 Sep 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SHPH COMMON STOCK Sale $1,597 -995 -0.54% $1.60 184,071 29 Dec 2022 Direct F1, F2

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 SHPH WARRANTS (right to buy) Other +138,889 138,889 02 Sep 2022 Common Stock 138,889 $4.00 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

William H. Adkins is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Represents the number of shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of 2,702 restricted stock units ("RSUs") held by the Reporting Person. Upon vesting of the RSUs, the sales are automatic, routine, non-discretionary transactions mandated by the Issuer under its equity incentive plan in order to satisfy the Reporting Person's tax withholding obligations which are funded by "sell to cover" transactions. These transactions are exempt under Section 16b-3 and do not represent discretionary trades by the Reporting Person.
F2 Consists of (i) 1,707 shares of Common Stock held by the Reporting Person and (ii) 182,364 shares of common stock held by the William Henry Adkins and Pauline Adkins 1993 Revocable Trust (the "Adkins Trust").
F3 Consists of warrants to purchase 138,889 shares of common stock held by the Adkins Trust. The Adkins Trust was a holder of the Issuer's Series A convertible preferred stock, which stock converted into commons stock upon completion of the Issuer's IPO and at which time the warrants were issued to the Series A holders in accordance with the terms of the Series A preferred stock offering.

Remarks:

Previously, the Reporting Person's warrant holdings had been reported in Table I of the Reporting Person's Form 3. This Form 4 has corrected the error and moved the warrant holdings to Table II. The Reporting Person ceased being a director of SHPH in December 2022 and is no longer subject to Section 16 reporting requirements.