Pankaj Mohan - Jan 7, 2023 Form 4 Insider Report for Sonnet BioTherapeutics Holdings, Inc. (SONN)

Signature
/s/ John Harry Cross III, power of attorney
Stock symbol
SONN
Transactions as of
Jan 7, 2023
Transactions value $
$0
Form type
4
Date filed
2/17/2023, 03:50 PM
Previous filing
Dec 22, 2022
Next filing
Mar 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SONN Common Stock Disposed to Issuer -73.6K -60.43% 48.2K Jan 7, 2023 Direct F1, F2, F3
transaction SONN Common Stock Award +73.6K +152.71% 122K Jan 7, 2023 Direct F1, F3
holding SONN Common Stock 570 Jan 7, 2023 By Child
holding SONN Common Stock 66.5K Jan 7, 2023 By Mohan Family Office F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On December 14, 2022, the Reporting Person was granted 73,561 restricted stock units to be settled in shares of common stock, par value $0.0001. On January 7, 2023, the 73,561 restricted stock units granted to the Reporting Person were rescinded and canceled. On the same day, the Reporting Person was granted a restricted stock award of 73,561 shares of common stock. The shares in connection with the restricted stock award become fully vested on January 1, 2024, provided the Reporting Person remains in continuous service through such date.
F2 A Form 4 that was filed by the Reporting Person on December 22, 2022, reported a transaction on December 14, 2022, that incorrectly referred to the amount of restricted stock units granted as 74,205. The correct number was 73,561 restricted stock units. In addition, the Form 4 incorrectly included amounts in Column 5 of Table I that did not reflect a 14:1 reverse stock split of the Issuer's common stock, effective September 16, 2022.
F3 Includes unvested restricted stock units.
F4 Reporting Person jointly exercises dispositive and voting power over the securities owned by the Mohan Family Office.