Thomas P. Soloway - 08 Jun 2023 Form 4 Insider Report for Satsuma Pharmaceuticals, Inc.

Reporting relationship: Director
Issuer ticker: N/A
Reported as of: 08 Jun 2023
Net transaction value: $0
SEC form: 4
Accepted by SEC: 08 Jun 2023, 16:37:58 UTC
Prior SEC filing: 08 Jun 2023
Next SEC filing: 10 Jun 2024
Source filing: View source filing
Reporting owner signature: /s/ Thomas P. O'Neil as Attorney in Fact for Thomas Soloway

Key filing fact

Thomas P. Soloway filed Form 4 for Satsuma Pharmaceuticals, Inc. on 08 Jun 2023.

Key facts

This page summarizes Thomas P. Soloway's Form 4 filing for Satsuma Pharmaceuticals, Inc..
3 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 08 Jun 2023, 16:37.

Change

Previous filing in this sequence was filed on 08 Jun 2023.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

STSA transaction Derivative

Stock Option (right to buy)

Disposed to Issuer

Transaction value: $0
Shares: -20,000
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 08 Jun 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 20,000
Exercise price: $27.25
Footnotes: F1, F2

STSA transaction Derivative

Stock Option (right to buy)

Disposed to Issuer

Transaction value: $0
Shares: -20,000
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 08 Jun 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 20,000
Exercise price: $4.60
Footnotes: F1, F2

STSA transaction Derivative

Stock Option (right to buy)

Disposed to Issuer

Transaction value: $0
Shares: -30,000
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 08 Jun 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 30,000
Exercise price: $3.46
Footnotes: F1, F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Thomas P. Soloway is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 2 footnotes

Footnote F1

Pursuant to the Merger Agreement, each vested option to purchase shares of common stock, par value $0.0001 per share (the "Shares") of the Issuer, with an exercise price that is less than the purchase price of $0.91 per share (the "Offer Price"), that is outstanding immediately prior to the date and time at which the Merger became effective (the "Effective Time") will terminate and be cancelled immediately prior to the Effective Time and converted into the right to receive (a) one non-transferable contractual contingent value right and (b) a lump sum cash payment equal in amount to (i) the number of vested Shares underlying such vested option as of immediately prior to the Effective Time, multiplied by (ii) the excess, if any, of $0.91 over the exercise price per Share underlying such vested option, less any required withholding taxes.

Footnote F2

Pursuant to the Merger Agreement, each option that was not a vested option to purchase Shares of the Issuer with an exercise price that is less than the Offer Price and was outstanding immediately prior to the Effective Time was terminated and canceled immediately prior to the Effective Time for no consideration.