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: ROOT JONATHAN D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-08	Common Stock	P	95238	$21.00	Acquired	95238	Direct
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

Derivative Transactions

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

Footnotes

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

F2: 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.

F3: Presidio Management Group XII, L.L.C. (PMG XII), the general partner of U.S. Venture Partners XII, L.P. and U.S. Venture Partners XII-A, L.P. (together, USVP XII), has sole voting and dispositive power with respect to the shares held by USVP XII. The reporting person is a managing member of PMG XII, and shares voting and dispositive power with respect to the shares held by USVP XII. The reporting person disclaims beneficial ownership of such holdings, except to the extent of his pecuniary interest in the shares.