Jonathon Gay - 16 Jun 2023 Form 4 Insider Report for Clene Inc. (CLNN)

Role: Director
Signature: /s/ Jerry Miraglia POA
Issuer symbol: CLNN
Transactions as of: 16 Jun 2023
Net transactions value: +$84,500
Form type: 4
Filing time: 20 Jun 2023, 09:50:05 UTC
Previous filing: 05 May 2023
Next filing: 19 Sep 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CLNN	Common Stock	Purchase	$84,500	+105,625		$0.8000	105,625	16 Jun 2023	By LLC	F1
holding	CLNN	Common Stock						68,745	16 Jun 2023	Direct
holding	CLNN	Common Stock						2,154,848	16 Jun 2023	By LLC	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	CLNN	Warrants (Right to buy)	Award		+105,625			105,625	16 Jun 2023	Common Stock	105,625	$1.50	Direct	F3, F4
transaction	CLNN	Warrants (Right to buy)	Award		+105,625			105,625	16 Jun 2023	Common Stock	105,625	$1.10	Direct	F3, F5

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

Explanation of Responses:

Id	Content
F1	The securities are owned by Kensington CI II, LLC. Mr. Gay is a manager of and owns a minority interest in Kensington CI II, LLC. The shares owned by Kensington CI II, LLC may be deemed to be beneficially owned by Mr. Gay. Mr. Gay disclaims all shares owned by Kensington CI II, LLC for which he does not have a pecuniary or profits interest.
F2	The securities are beneficially owned by KSV Gold, LLC. Mr. Gay is a member of KSV Gold, LLC's management team. The shares beneficially owned by KSV Gold, LLC may also be deemed to be beneficially owned by Mr. Gay. However, Mr. Gay has no control over how the shares owned by KSV Gold, LLC are voted and disclaims all shares for which he does not have a pecuniary or profits interest.
F3	The price for each Unit is $0.80; one Unit consists of one share of Common Stock of Clene, one Tranche A Warrant and one Tranche B Warrant.
F4	Kensington CI II, LLC purchased a unit consisting of one share of Common Stock of Clene Inc., one Tranche A Warrant, and one Tranche B Warrant. The Tranche B Warrant is for 105,625 shares of Common Stock of Clene Inc. at an exercise price of $1.50 per share. The Tranche B Warrant will expire on the earlier of (a) June 16, 2030, or (b) 60 days after the Food and Drug Administration accepts a New Drug Application from Clene Inc. The shares owned by Kensington CI II, LLC may be deemed to be beneficially owned by Mr. Gay. Mr. Gay disclaims all shares owned by Kensington CI II, LLC for which he does not have a pecuniary or profits interest.
F5	Kensington CI II, LLC purchased a unit consisting of one share of Common Stock of Clene Inc., one Tranche A Warrant, and one Tranche B Warrant. The Tranche A Warrant is for 105,625 shares of Common Stock of Clene Inc. at an exercise price of $1.10 per share. The Tranche B Warrant will expire on the earlier of (a) June 16, 2026, or (b) 60 days after the Food and Drug Administration accepts a New Drug Application from Clene Inc. The shares owned by Kensington CI II, LLC may be deemed to be beneficially owned by Mr. Gay. Mr. Gay disclaims all shares owned by Kensington CI II, LLC for which he does not have a pecuniary or profits interest.