EXAGEN INC. — Director's Dealing 2019

Sep 23, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXAGEN INC. (XGN)
CIK: 0001274737
Period of Report: 2019-09-19

Reporting Person: PALLARES EBETUEL (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-09-19	Common Stock	X	3839	$14.3235	Acquired	4018	Indirect
2019-09-19	Common Stock	F	2960	$18.58	Disposed	1058	Indirect
2019-09-23	Common Stock	C	120609	$0.00	Acquired	121667	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-09-19	Warrants	$14.3235	X	3839	Disposed		Common Stock (3839)	Indirect
2019-09-23	Series E Redeemable Convertible Preferred Stock	$	C	4423371	Disposed		Common Stock (77204)	Indirect
2019-09-23	Series F Redeemable Convertible Preferred Stock	$	C	7970686	Disposed		Common Stock (43405)	Indirect

Footnotes

F1: The shares reported on this form are held of record by PCM/Exagen, L.P. ("PCM"). Ebetuel Pallares is a co-manager of PCM. As a result, each of PCM and Dr. Pallares may be deemed to share beneficial ownership of the shares held of record by PCM.

F2: The warrants are currently exercisable and will terminate upon closing of the Issuer's initial public offering.

F3: Represents warrants that previously entitled the holders to purchase Series E Redeemable Convertible Preferred Stock, which, pursuant to their terms, were settled in shares of the Issuer's Common Stock.

F4: The Series E Redeemable Convertible Preferred Stock (the "Series E") is convertible into the Issuer's Common Stock on a 57.294-for-one basis at the holder's election and has no expiration date. The Series E automatically converted into Common Stock upon the closing of the Issuer's initial public offering.

F5: The Series F Redeemable Convertible Preferred Stock ("Series F") is convertible into the Issuer's Common Stock on a 183.635-for-one basis at the holder's election and has no expiration date. The Series F automatically converted into Common Stock upon the closing of the Issuer's initial public offering.