ELUTIA INC. — Director's Dealing 2022

Jun 23, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AZIYO BIOLOGICS, INC. (AZYO)
CIK: 0001708527
Period of Report: 2022-06-21

Reporting Person: Mills C Randal (Director, Interim President and CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-06-21	Stock Option (Right to Buy)	$6.39	A	273767	Acquired	2032-06-20	Class A Common Stock (273767)	Direct
2022-06-21	Stock Option (Right to Buy)	$6.39	A	182511	Acquired	2032-06-20	Class A Common Stock (182511)	Direct

Footnotes

F1: The option vests and becomes exercisable as to one-third of the underlying shares upon the day following the expiration of the Interim Period (as defined in the Reporting Person's Employment Agreement dated June 21, 2022). The remaining two-thirds of the underlying shares vest and become exercisable, with respect to 25% of such shares, on June 21, 2023, and, with respect to 75% of such shares, in twelve equal quarterly installments thereafter, beginning on September 21, 2023, subject to the Reporting Person's continuous employment with the Issuer through the applicable vesting date.

F2: The option vests and becomes exercisable in four equal installments upon the Issuer's achievement of a share price equal to or greater than $12.50, $17.00, $25.00 and $37.00, in each case determined based on twenty consecutive days of trading at or above the applicable threshold, subject to the Reporting Person's continuous employment with the Issuer through the applicable vesting date.