Adam Mendelsohn - 06 Mar 2023 Form 4 Insider Report for Vivani Medical, Inc. (VANI)

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	VANI	Common Stock Option	Award	$0	+200,000		$0.000000	200,000	06 Mar 2023	Common Stock	200,000	$1.09	Direct	F2
transaction	VANI	RSU	Award	$0	+100,000		$0.000000	100,000	06 Mar 2023	Common Stock	100,000		Direct	F1, F3

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

Id	Content
F1	Each RSU represents a contingent right to receive one share of Vivani common stock.
F2	The stock options have a 10-year term and vest immediately when share price closes at $6.30 for three consecutive business days. If the options fail to reach $6.30 for three consecutive business days within a four year term from the date of grant the options expire.
F3	First third of RSUs vest when the stock price is at or above $3.15 for three consecutive business days. Second third vests one year after that. Final third vests one year after the second third. If the RSUs fail to reach $3.15 for three consecutive business days within a four year term from the date of the grant the RSUs expire.