CalciMedica, Inc. — Director's Dealing 2021

Sep 24, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAYBUG VISION, INC. (GRAY)
CIK: 0001534133
Period of Report: 2021-09-22

Reporting Person: BREUIL ROBERT S (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-09-22	Common Stock	M	20000	—	Acquired	20000	Direct
2021-09-22	Common Stock	S	7283	$3.5499	Disposed	12717	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-09-22	Restricted Stock Units	$	M	20000	Disposed		Common Stock (20000)	Direct

Footnotes

F1: Each RSU represents a contingent right to receive one share of the Issuer's common stock.

F2: Represents the aggregate number of shares sold by the Reporting Person to cover taxes and fees due upon the release and settlement of the
Restricted Stock Units ("RSUs"). The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other
than to cover required taxes and fees.

F3: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.47 to
$3.61 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the
Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the
range set forth in this footnote.

F4: The RSUs vested as to 1/4 of the total shares on September 4, 2021, but were not settled and issued until September 22, 2021. 1/12 of the remaining shares shall vest quarterly thereafter such that the RSUs shall be fully vested on September 4, 2024, subject to the continued service of the Reporting Person to the Issuer through each vesting date.

F5: The RSUs do not expire; they either vest or are canceled prior to vest date.