Simba Gill - 27 Sep 2023 Form 4 Insider Report for Evelo Biosciences, Inc.

Role
President & CEO, Director
Signature
/s/ Marella Thorell, Attorney-in-Fact for Balkrishan (Simba) Gill, Ph.D.
Issuer symbol
EVLO on OTC
Transactions as of
27 Sep 2023
Net transactions value
-$7,864
Form type
4
Filing time
29 Sep 2023, 16:02:17 UTC
Previous filing
09 Aug 2023
Next filing
08 Nov 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EVLO Common Stock Options Exercise +15,000 +400% 18,754 27 Sep 2023 Direct F1
transaction EVLO Common Stock Sale $7,864 -1,996 -11% $3.94 16,758 28 Sep 2023 Direct F2, F3

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 EVLO Restricted Stock Units Award $0 +60,000 $0.000000 60,000 27 Sep 2023 Common Stock 60,000 Direct F1, F4
transaction EVLO Restricted Stock Units Options Exercise $0 -15,000 -25% $0.000000 45,000 27 Sep 2023 Common Stock 15,000 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Issuer common stock.
F2 The sale reported in the Form 4 was effected pursuant to a Rule 10b5-1 instruction entered into by the Reporting Person on December 7, 2022, solely with the intent to cover withholding taxes in connection with the vesting of certain previously reported restricted stock units.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within the range of $3.92 to $3.94, inclusive. The Reporting Person undertakes to provide to the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote of this Form 4.
F4 The RSUs vested as to 25% of the underlying shares on the grant date of September 27, 2023, with the remaining shares vesting in twelve (12) equal quarterly installments such that all of the RSUs will become vested on the third anniversary of the grant date, subject to the reporting person's continued service to the issuer on each such vesting date. The RSUs have no expiration date.