Funicular Funds, LP - 15 Dec 2022 Form 4 Insider Report for ARCA biopharma, Inc. (ORKA)

Reporting relationship: Other*, 10%+ Owner
Issuer ticker: ORKA
Reported as of: 15 Dec 2022
Net transaction value: +$3,550,000
SEC form: 4
Accepted by SEC: 19 Dec 2022, 16:33:58 UTC
Prior SEC filing: 08 Jul 2022
Next SEC filing: 13 Feb 2023
Source filing: View source filing
Reporting owner signature: /s/ Jacob Ma-Weaver

Key filing fact

Funicular Funds, LP filed Form 4 for ARCA biopharma, Inc. (ORKA) on 19 Dec 2022.

Key facts

This page summarizes Funicular Funds, LP's Form 4 filing for ARCA biopharma, Inc. (ORKA).
4 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 19 Dec 2022, 16:33.

Change

Previous filing in this sequence was filed on 08 Jul 2022.
Current net transaction value: +$3,550,000.

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 non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

ABIO transaction

Common Stock

Exercise of in-the-money or at-the-money derivative security

Transaction value: $3,550,000
Shares: +1,420,000
Change %: +55%
Price: $2.50
Shares after: 4,000,452
Date: 16 Dec 2022
Ownership: Direct
Footnotes: F1, F2

Reported derivative securities

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

ABIO transaction Derivative

Stock Option (right to buy)

Award

Transaction value: $0
Shares: +6,000
Change %: +50%
Price: $0.000000
Shares after: 18,000
Date: 15 Dec 2022
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 6,000
Exercise price: $2.32
Footnotes: F1, F2, F3, F4

ABIO transaction Derivative

Put Option

Exercise of in-the-money or at-the-money derivative security

Transaction value: $0
Shares: -14,200
Change %: -32%
Price: $0.000000
Shares after: 30,000
Date: 16 Dec 2022
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,420,000
Exercise price: $2.50
Footnotes: F1, F2

ABIO transaction Derivative

Put Option

Expiration of short derivative position

Transaction value: $0
Shares: -300
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 16 Dec 2022
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 30,000
Exercise price: $2.50
Footnotes: F1, F2

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

This Form 4 is filed by Funicular Funds, LP (the "Fund") and Jacob Ma-Weaver ("Mr. Ma-Weaver" and together with the Fund, the "Reporting Persons"). The Reporting Persons, the Funicular Fund ("Funicular") and Cable Car Capital LLC ("Cable Car") may be deemed to be a member of a Section 13(d) group that may be deemed to collectively beneficially own more than 10% of the Issuer's outstanding shares of Common Stock. The Reporting Persons, Funicular and Cable Car disclaim beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.

Footnote F2

Represents securities directly owned by the Fund. Funicular, as a feeder fund to the Fund, may be deemed to beneficially own the securities directly ownedby the Fund. Cable Car, as the general partner of the Fund, may be deemed to beneficially own the securities directly owned by the Fund. Mr. Ma-Weaver, asthe Managing Member of Cable Car, may be deemed to beneficially own the securities directly owned by the Fund.

Footnote F3

Grant to Mr. Ma-Weaver of a stock option under the 2020 Equity Incentive Plan (the "Plan"), vesting in 12 equal monthly installments beginning as of December 15, 2022. If Mr. Ma-Weaver's service as a director of the Issuer terminates in connection with or at any time following a change in control (for whatever reason), then any unexpired options that remain unvested shall become fully vested.

Footnote F4

Pursuant to the terms of the Plan, the stock option may not be transferred. Upon vesting, Mr. Ma-Weaver intends on exercising the option and assigning the underlying shares to the Fund.