Equillium, Inc. — Director's Dealing 2021

Jun 9, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Equillium, Inc. (EQ)
CIK: 0001746466
Period of Report: 2021-06-04

Reporting Person: Connelly Stephen (Director, Chief Scientific Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-06-04	Common Stock	M	6509	$2.80	Acquired	999509	Direct
2021-06-04	Common Stock	S	6509	$7.0058	Disposed	993000	Direct
2021-06-04	Common Stock	M	7030	$4.75	Acquired	1000030	Direct
2021-06-04	Common Stock	S	7030	$7.005	Disposed	993000	Direct
2021-06-07	Common Stock	M	8490	$2.80	Acquired	1001490	Direct
2021-06-07	Common Stock	S	8490	$7.0842	Disposed	993000	Direct
2021-06-07	Common Stock	M	13900	$4.75	Acquired	1006900	Direct
2021-06-07	Common Stock	S	13900	$7.1413	Disposed	993000	Direct
2021-06-08	Common Stock	M	10495	$4.75	Acquired	1003495	Direct
2021-06-08	Common Stock	S	10495	$7.1763	Disposed	993000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-06-04	Employee Stock Option (right to buy)	$2.80	M	6509	Disposed	2030-05-18	Common Stock (6509)	Direct
2021-06-04	Employee Stock Option (right to buy)	$4.75	M	7030	Disposed	2029-12-09	Common Stock (7030)	Direct
2021-06-07	Employee Stock Option (right to buy)	$2.80	M	8490	Disposed	2030-05-18	Common Stock (8490)	Direct
2021-06-07	Employee Stock Option (right to buy)	$4.75	M	13900	Disposed	2029-12-09	Common Stock (13900)	Direct
2021-06-08	Employee Stock Option (right to buy)	$4.75	M	10945	Disposed	2029-12-09	Common Stock (10945)	Direct

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.00 to $7.04, 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 ranges set forth in footnotes (1) through (4) to this Form 4.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.00 to $7.19, 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 ranges set forth in footnotes (1) through (4) to this Form 4.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.00 to $7.38, 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 ranges set forth in footnotes (1) through (4) to this Form 4.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.04 to $7.48, 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 ranges set forth in footnotes (1) through (4) to this Form 4.

F5: The option, representing a right to purchase a total of 14,999 shares, became exercisable on May 19, 2021, which was the first anniversary of the date on which the option was granted, and in 36 equal monthly installments thereafter.

F6: The option, representing a right to purchase a total of 31,875 shares, became exercisable on December 10, 2020, which was the first anniversary of the date on which the option was granted, and in 36 equal monthly installments thereafter.