Donald Dwyer - May 10, 2024 Form 4 Insider Report for Vivani Medical, Inc. (VANI)

Role
Chief Business Officer
Signature
/s/ Judy Wong, Attorney-in-fact
Stock symbol
VANI
Transactions as of
May 10, 2024
Transactions value $
$0
Form type
4
Date filed
5/14/2024, 06:51 PM
Previous filing
Aug 1, 2024
Next filing
Aug 1, 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 VANI Common Stock Option Award $0 +70K $0.00 70K May 10, 2024 Common Stock 70K $1.81 Direct F1
transaction VANI Restricted Stock Units Award $0 +35K $0.00 35K May 10, 2024 Common Stock 35K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The stock options have a 10-year term and vest 25% at one-year and monthly thereafter for 36 months, subject to the Reporting Person's continued service through each applicable vesting date.
F2 Each restricted stock unit ("RSU") represents a contingent right to receive one share of Vivani common stock.
F3 The performance based RSUs shall vest in three stages: one-third when the stock price is at or above $3.15 for three consecutive trading days, another one-third one year after this date when the market condition is first achieved, and the final one-third one year after this second vesting date when the market condition is achieved, subject to the Reporting Person's continued service through each applicable vesting date. If the RSUs fail to be at or above $3.15 for three consecutive trading dates within a four year term from the date of the grant, the RSUs shall expire.

Remarks:

Exhibit 24 - Power of Attorney.