Stuart Rich - Oct 12, 2021 Form 4 Insider Report for TENAX THERAPEUTICS, INC. (TENX)

Signature
/s/ S. Halle Vakani, as Attorney-in-Fact
Stock symbol
TENX
Transactions as of
Oct 12, 2021
Transactions value $
$0
Form type
4
Date filed
12/6/2021, 04:08 PM
Previous filing
Jun 15, 2021
Next filing
Jun 10, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TENX Common Stock Gift $0 -1.91M -45% $0.00 2.33M Oct 12, 2021 Direct
transaction TENX Common stock Gift $0 +1.91M $0.00 1.91M Oct 12, 2021 By Spouse
transaction TENX Common stock Gift $0 -1.91M -100% $0.00* 0 Nov 29, 2021 By Spouse F1
transaction TENX Common Stock Gift $0 +1.91M $0.00 1.91M Nov 29, 2021 By Andrea Rich 2021 Irrevocable Trust 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
holding TENX Stock Option (right to buy) 250K Oct 12, 2021 Common Stock 250K $1.78 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Stuart Rich is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Represents a gift of Issuer's common stock to the Andrea Rich 2021 Irrevocable Trust, a Spousal Lifetime Access Trust (the "Trust"), for the benefit of the Reporting Person and the Reporting Person's children.
F2 The Reporting Person is co-trustee of the Trust and disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F3 The option becomes exercisable in four equal installments, with 25% vesting after the start of a Phase 3 clinical trial, 25% vesting after the database lock with respect to the trial, 25% vesting after the opening of an Investigational New Drug Application with the U.S. Food and Drug Administration ("FDA"), and 25% vesting after the approval from the FDA.

Remarks:

Exhibit 24 - Power of Attorney