ARS Pharmaceuticals, Inc. — Director's Dealing 2023

Jun 29, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARS Pharmaceuticals, Inc. (SPRY)
CIK: 0001671858
Period of Report: 2023-06-27

Reporting Person: RA CAPITAL MANAGEMENT, L.P. (Director)
Reporting Person: RA Capital Healthcare Fund LP (Director)
Reporting Person: RA Capital Nexus Fund II, L.P. (Director)
Reporting Person: Kolchinsky Peter (Director)
Reporting Person: Shah Rajeev M. (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-06-27	Stock Option (Right to Buy)	$6.5	A	40000	Acquired	2033-06-26	Common Stock (40000)	Indirect

Footnotes

F1: The shares subject to the option will vest in full on the earlier of June 27, 2024 or the date of the Issuer's 2024 annual meeting of stockholders, which date has not been set by the Issuer's Board of Directors.

F2: RA Capital Management, L.P. (the "Adviser") is the investment manager for RA Capital Healthcare Fund, L.P. (the "Fund") and RA Capital Nexus Fund II, L.P. (the "Nexus Fund II"). The general partner of the Adviser is RA Capital Management GP, LLC (the "Adviser GP"), of which Dr. Peter Kolchinsky and Mr. Rajeev Shah are the managing members. The Adviser, the Adviser GP, Dr. Kolchinsky, and Mr. Shah disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein.

F3: Under Dr. Kolchinsky's arrangement with the Adviser, Dr. Kolchinsky holds the option for the benefit of the Fund and the Nexus Fund II. Dr. Kolchinsky is obligated to turn over to the Adviser any net cash or stock received upon exercise of the option, which will offset advisory fees owed by the Fund and the Nexus Fund II to the Adviser. The Reporting Persons therefore disclaim beneficial ownership of the option and underlying common stock except to the extent of their pecuniary interest.