Ryan J. Watts - Aug 10, 2023 Form 4 Insider Report for Denali Therapeutics Inc. (DNLI)

Role: President and CEO, Director
Signature: /s/ Tyler Nielsen, by power of attorney
Stock symbol: DNLI
Transactions as of: Aug 10, 2023
Transactions value $: -$61,508
Form type: 4
Date filed: 8/14/2023, 05:13 PM
Previous filing: Jun 20, 2023
Next filing: Aug 23, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DNLI	Common Stock	Options Exercise	$1.72K	+2.53K	+0.11%	$0.68^*	2.24M	Aug 10, 2023	See footnote	F1, F2
transaction	DNLI	Common Stock	Sale	-$63.2K	-2.53K	-0.11%	$25.03	2.24M	Aug 10, 2023	See footnote	F2, F3, F4
holding	DNLI	Common Stock						188K	Aug 10, 2023	Direct	F5

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	DNLI	Stock Option (right to buy)	Options Exercise	$0	-2.53K	-0.23%	$0.00	1.12M	Aug 10, 2023	Common Stock	2.53K	$0.68	Direct	F6

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

Explanation of Responses:

Id	Content
F1	Exercised shares were issued to the Watts Family 2015 Trust.
F2	The shares are held of record by the Watts Family 2015 Trust dated July 7, 2015, for which the Reporting Person serves as trustee.
F3	The sales reported by the Reporting Person were affected pursuant to a Rule 10b5-1 trading plan adopted August 18, 2022.
F4	The sale price reported in column 4 of Table I represents the weighted average sale price of the shares ranging from $25.00 to $25.11 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
F5	Includes 188,437 RSUs.
F6	The vesting of the shares subject to the option are contingent upon the achievement of certain performance metrics. 50% of the shares subject to the option vested on March 3, 2021, and 50% of the shares subject to the option will vest on the date the closing price of Issuer's Common Stock equals or exceeds $80.00 per share on NASDAQ for 90 consecutive trading days.