Taylor C. Harris - Jul 15, 2024 Form 4 Insider Report for CUTERA INC (CUTR)

Role
Chief Executive Officer, Director
Signature
/s/ Stuart Drummond, by power of attorney
Stock symbol
CUTR
Transactions as of
Jul 15, 2024
Transactions value $
$0
Form type
4
Date filed
7/17/2024, 09:31 PM
Previous filing
Jun 6, 2024
Next filing
Aug 9, 2024

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 CUTR Stock Option (Right to Buy) Disposed to Issuer $0 -25.3K -100% $0.00* 0 Jul 15, 2024 COMMON STOCK 25.3K $16.84 Direct F1
transaction CUTR Stock Option (Right to Buy) Award $0 +25.3K $0.00 25.3K Jul 15, 2024 COMMON STOCK 25.3K $1.54 Direct F1, F2
transaction CUTR Stock Option (Right to Buy) Disposed to Issuer $0 -735K -100% $0.00* 0 Jul 15, 2024 COMMON STOCK 735K $11.02 Direct F3
transaction CUTR Stock Option (Right to Buy) Award $0 +735K $0.00 735K Jul 15, 2024 COMMON STOCK 735K $1.54 Direct F2, F3
transaction CUTR Stock Option (Right to Buy) Disposed to Issuer $0 -200K -100% $0.00* 0 Jul 15, 2024 COMMON STOCK 200K $2.23 Direct F4
transaction CUTR Stock Option (Right to Buy) Award $0 +200K $0.00 200K Jul 15, 2024 COMMON STOCK 200K $1.54 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 One-third of the shares subject to the option vested on May 19, 2024 and one-third of the shares subject to the option vest each one-year anniversary thereafter, subject to the Reporting Person continuing as a service provider through each such date.
F2 On July 15, 2024, the Issuer's Board of Directors approved an option repricing (the "Repricing") whereby the Reporting Person's options were repriced to an exercise price of $1.54 per share. All of the other terms of the options remain unchanged. Such transactions were exempt pursuant to Rule 16b-6(d) and Rule 16b-3 of the Exchange Act, as applicable.
F3 One-fourth of the shares subject to the option will be eligible to vest upon the date the 30 calendar-day trailing average closing price of the Issuer's common stock first meets each of the following levels within four years of the grant date: $20.00, $25.00, $30.00, and $35.00. Once a level is attained, one-fourth of the options subject to such tranche will vest on the later of (i) the date such level is attained or (ii) August 7, 2024. The remaining options in such tranche will vest over the next 12 quarters, subject to the Reporting Person continuing as a service provider through each such date.
F4 The shares subject to the option shall vest 1/48 per month from April 25, 2024, subject to the Reporting Person continuing to be a service provider through each such date.