EXICURE, INC. — Director's Dealing 2020

Jul 8, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXICURE, INC. (XCUR)
CIK: 0001698530
Period of Report: 2020-07-06

Reporting Person: Venkatesan Jay (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-07-06	Common Stock	M	9310	$0.65	Acquired	311544	Direct
2020-07-06	Common Stock	M	12930	$1.03	Acquired	324473	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-07-06	Stock Option (right to buy)	$0.65	M	9310	Disposed	2024-02-17	Common Stock (9310)	Direct
2020-07-06	Stock Option (right to buy)	$1.03	M	12930	Disposed	2025-04-28	Common Stock (12930)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	190957	Indirect
Common Stock	156858	Indirect

Footnotes

F1: The Reporting Person is the trustee of the Venkatesan-Louizides Trust (the "Trust") and has voting or dispositive power over the shares held by the Trust.

F2: The Reporting Person disclaims beneficial ownership of the shares of common stock reported herein except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

F3: The Reporting Person is the managing director of the Ayer Special Situations Fund I, LP ("Ayer Fund") and has voting or dispositive power over the shares held by the Ayer Fund.

F4: This option vested 25% on October 1, 2014, and the remaining 75% vested in 36 substantially equal monthly installments thereafter, subject to the Reporting Person's continued service with the Issuer and certain change of control provisions.

F5: This option vested in 48 substantially equal monthly installments from February 20, 2015, subject to the Reporting Person's continued service with the Issuer and certain change of control provisions.