KALA BIO, Inc. — Director's Dealing 2023

Jun 3, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Kala Pharmaceuticals, Inc. (KALA)
CIK: 0001479419
Period of Report: 2023-05-31

Reporting Person: KOVEN ANDREW I (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-31	Common Stock	A	2197	—	Acquired	3257	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-31	Stock Option (right to buy)	$1154	D	518	Disposed	2027-09-28	Common Stock (518)	Direct
2023-05-31	Stock Option (right to buy)	$686.50	D	259	Disposed	2028-06-11	Common Stock (259)	Direct
2023-05-31	Stock Option (right to buy)	$267.50	D	420	Disposed	2029-06-04	Common Stock (420)	Direct
2023-05-31	Stock Option (right to buy)	$18	D	1000	Disposed	2032-06-15	Common Stock (1000)	Direct

Footnotes

F1: On May 31, 2023, the issuer canceled, pursuant to the issuer's option exchange program, all outstanding unexercised options granted to the reporting person. In exchange, the reporting person received (i) in the case of the canceled options that were fully vested, a grant of 1,197 restricted stock units (the "RSUs") that vest over two years, with 50% of such RSUs vesting on May 31, 2024 and 50% of such RSUs vesting on May 31, 2025 and (ii) in the case of the canceled options that were unvested, a grant of 1,000 RSUs that vest 100% on May 31, 2025, in each case, subject to the reporting person's continued service with the issuer. Each RSU represents a contingent right to receive one share of the issuer's common stock.

F2: Includes 3,257 unvested or deferred RSUs.

F3: The number of shares and exercise price reflect a 1-for-50 reverse stock split effected by the Issuer on October 20, 2022.

F4: The cancelled option was granted on September 28, 2017 and provided for vesting with respect to 1/3rd of the shares on the first anniversary of the grant date and with respect to an additional 1/36th of the shares on each monthly anniversary thereafter and was subject to vest automatically as to 100% of the unvested portion of such option upon specified change in control events.

F5: The cancelled option was granted on June 12, 2018 and provided for vesting in equal monthly installments until the one-year anniversary of the date of grant and was subject to vest automatically as to 100% of the unvested portion of such option upon specified change in control events.

F6: The cancelled option was granted on June 5, 2019 and provided for vesting with respect to 1/12th of the shares underlying the option at the end of each successive one-month period thereafter.

F7: The cancelled option was granted on June 16, 2022 and provided for vesting as to 100% of the shares underlying the option on the earlier of (i) June 16, 2023 or (ii) the date of the first annual meeting following June 16, 2022.