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: Schroeder Thilo (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-08	Common Stock	P	238096	$21.00	Acquired	238096	Indirect
2020-12-08	Common Stock	C	1246870	—	Acquired	1484966	Indirect
2020-12-08	Common Stock	C	425063	—	Acquired	1910029	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-08	Series B Preferred Stock	$	C	4629630	Disposed		Common Stock (1246870)	Indirect
2020-12-08	Series C Preferred Stock	$	C	1578259	Disposed		Common Stock (425063)	Indirect

Footnotes

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

F2: Nextech Invest AG is the investment advisor of Nextech VI Oncology SCSp ("Nextech VI"). The reporting person is a managing member at Nextech Invest AG and may therefore be deemed to be the beneficial owner of shares held by Nextech VI. The reporting person disclaims beneficial ownership of such shares, except to the extent of any pecuniary interest therein.

F3: All outstanding shares of Preferred Stock automatically converted into shares of Common Stock immediately upon the closing of the Issuer's initial public offering, for no additional consideration at a rate of one share of Common Stock for each 3.713 shares of Preferred Stock, based on the conversion price currently in effect. The Preferred Stock has no expiration date.