ARS Pharmaceuticals, Inc. — Director's Dealing 2020

Dec 9, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Silverback Therapeutics, Inc. (SBTX)
CIK: 0001671858
Period of Report: 2020-12-08

Reporting Person: Presidio Management Group XII, L.L.C. (10% Owner)
Reporting Person: U.S. Venture Partners XII, L.P. (10% Owner)
Reporting Person: U.S. Venture Partners XII-A, L.P. (10% Owner)
Reporting Person: Tansey Casey M (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-08	Common Stock	C	1779969	—	Acquired	1779969	Indirect
2020-12-08	Common Stock	C	289198	—	Acquired	2069167	Indirect
2020-12-08	Common Stock	C	90335	—	Acquired	90335	Indirect
2020-12-08	Common Stock	C	14677	—	Acquired	105012	Indirect
2020-12-08	Common Stock	P	47619	$21	Acquired	47619	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-08	Preferred Series B Stock	$	C	6609027	Disposed		Common Stock (1779969)	Indirect
2020-12-08	Preferred Series B Stock	$	C	335417	Disposed		Common Stock (90335)	Indirect
2020-12-08	Preferred Series C Stock	$	C	1073793	Disposed		Common Stock (289198)	Indirect
2020-12-08	Preferred Series C Stock	$	C	54496	Disposed		Common Stock (14677)	Indirect

Footnotes

F1: The shares were purchased in the Issuer's initial public offering.

F2: Series B and Series C Preferred Stock automatically converted into shares of the Issuer's Common Stock immediately upon the closing of the Issuer's imitial public offering, for no additional consideration at a rate of 1 share of Common Stock for each 3.713 shares of Preferred Stock, based on the conversion price currently in effect. The Preferred Stock had no expiration date.

F3: Presidio Management Group XII, L.L.C. ("PMG XII"), the general partner of each of U.S. Venture Partners XII, L.P. and U.S. Venture Partners XII-A, L.P. (together, the "USVP XII Funds"), has sole voting and dispositive power with respect to the shares held by the USVP XII. Casey Tansey is the sole managing partner of PMG XII and may be deemed to have voting and dispositive power over the reported securities held by the USVP XII Funds, and each of the foregoing persons disclaims beneficial ownership of such securities, except to the extent of any pecuniary interest therein.