KALA BIO, Inc. — Director's Dealing 2023

Jun 24, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Kala Pharmaceuticals, Inc. (KALA)
CIK: 0001479419
Period of Report: 2023-06-22

Reporting Person: Blumenkranz Mark S. (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-06-22	Common Stock	A	3784	—	Acquired	10591	Direct
2023-06-22	Common Stock	A	1100	—	Acquired	11691	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-06-22	Stock Option (right to buy)	$14.56	A	5046	Acquired	2033-06-21	Common Stock (5046)	Direct
2023-06-22	Stock Option (right to buy)	$14.56	A	2500	Acquired	2033-06-21	Common Stock (2500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	168454	Indirect
Common Stock	1276	Indirect

Footnotes

F1: Grant of restricted stock units ("RSUs") under the Issuer's Amended and Restated 2017 Equity Incentive Plan. Each RSU represents a contingent right to receive one share of the Issuer's common stock. Subject to the reporting person's continued service, the RSUs will vest as to 1/3 of the shares underlying the RSUs on June 22, 2024, as to 1/3 of the shares underlying the RSUs on June 22, 2025 and as to the final 1/3 of shares underlying the RSUs on June 22, 2026.

F2: Includes 5,424 unvested RSUs.

F3: Grant of RSUs under the Issuer's Amended and Restated 2017 Equity Incentive Plan. Each RSU represents a contingent right to receive one share of the Issuer's common stock. Subject to the reporting person's continued service, the RSUs will vest as to 100% of the shares underlying the grant on the earlier of (i) June 22, 2024 or (ii) the date of the first annual meeting following June 22, 2023.

F4: Includes 6,524 unvested RSUs.

F5: These securities are held directly by Lagunita Biosciences, LLC ("Lagunita"). The reporting person is a managing partner of Lagunita and may be deemed to have beneficial ownership over the Lagunita Shares. The reporting person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

F6: These securities are held directly by Garland Investments, L.P. ("Garland"). The reporting person is a managing partner of Garland and may be deemed to have beneficial ownership over the Garland Shares. The reporting person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

F7: This option was granted on June 22, 2023 and vests over four years beginning on the vesting commencement date of June 22, 2023, with 25% of the shares underlying the option vesting on June 22, 2024, and an additional 1/48th the shares underlying the option vesting at the end of each successive one-month period thereafter.

F8: This option was granted on June 22, 2023 and vests as to 100% of the shares underlying the grant on the earlier of (i) June 22, 2024 or (ii) the date of the first annual meeting following June 22, 2023.