Surendra K. Ajjarapu - Mar 22, 2023 Form 4 Insider Report for Ocean Biomedical, Inc. (OCEA)

Role: Director
Signature: /s/ Katherine E. Spiser, as attorney-in-fact for Surendra K. Ajjarapu
Stock symbol: OCEA
Transactions as of: Mar 22, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/24/2023, 09:23 PM
Previous filing: Apr 21, 2023
Next filing: Jun 14, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	OCEA	Common Stock, par value $0.0001	Other		-1.05M	-76.92%		315K	Mar 22, 2023	By Aesther Healthcare Sponsor, LLC	F1, F2
holding	OCEA	Common Stock, par value $0.0001						21.3K	Mar 22, 2023	By Sansur Associates, LLC	F3
holding	OCEA	Common Stock, par value $0.0001						469K	Mar 22, 2023	By Surendra Ajjarapu Revocable Trust of 2007	F4
holding	OCEA	Common Stock, par value $0.0001						258K	Mar 22, 2023	By Sandhya Ajjarapu Revocable Trust of 2007	F5

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

Explanation of Responses:

Id	Content
F1	Represents the transfer of 1,050,000 shares of common stock, par value $0.0001 per share (the "Common Stock"), of Ocean Biomedical, Inc. (the "Issuer") from Aesther Healthcare Sponsor, LLC (the "Sponsor") to NPIC Limited (the "Lender") on March 22, 2023 pursuant to that certain Loan Modification Agreement, dated March 22, 2023, between the Sponsor, the Issuer, and the Lender, as consideration for the Lender's agreement to extend the maturity date of the Sponsor's repayment of a $1,050,000 loan.
F2	These shares of Common Stock are owned directly by the Sponsor. Suren Ajjarapu ("Mr. Ajjarapu") is the managing member of the Sponsor and therefore may be deemed to have beneficial ownership of the securities held by the Sponsor. Mr. Ajjarapu disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F3	These shares of Common Stock are owned directly by Sansur Associates, LLC ("Sansur"). As manager of Sansur, Mr. Ajjarapu may be deemed to be the indirect beneficial owner of the securities held by Sansur. Mr. Ajjarapu disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F4	These shares are owned directly by the Surendra Ajjarapu Revocable Trust of 2007 (the "Surendra Trust"). As trustee of the Surendra Trust, Mr. Ajjarapu may be deemed to be the indirect beneficial owner of the securities held by the Surendra Trust. Mr. Ajjarapu disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F5	These shares of Common Stock are owned directly by the Sandhya Ajjarapu Revocable Trust of 2007 (the "Sandhya Trust"), of which Mr. Ajjarapu's wife, Sandhya Ajjarapu ("Mrs. Ajjarapu") is the trustee and Mr. Ajjarapu is the successor trustee. Because Mrs. Ajjarapu's pecuniary interest in the Sandhya Trust is attributable to Mr. Ajjarapu by nature of their spousal relationship, Mr. Ajjarapu may be deemed to be the indirect beneficial owner of the securities held by the Sandhya Trust. Mr. Ajjarapu disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Remarks:

Exhibit List - Exhibit 24.1: Power of Attorney (Surendra K. Ajjarapu)