Outset Medical, Inc. — Director's Dealing 2021

May 18, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Outset Medical, Inc. (OM)
CIK: 0001484612
Period of Report: 2021-05-17

Reporting Person: Brottem John L. (General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-17	Common Stock	M	3500	$9.48	Acquired	18172	Direct
2021-05-17	Common Stock	S	3500	$42.3407	Disposed	14672	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-17	Performance Options (right to buy)	$9.48	M	3500	Disposed	2030-05-26	Common Stock (3500)	Direct

Footnotes

F1: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on December 14, 2020.

F2: The price reported in Column 4 is a weighted average price. The shares of common stock of the Issuer were sold in multiple transactions at prices ranging from $41.67 to $42.86, 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 within the range set forth in this footnote (2).

F3: This option vests if and to the extent that (i) the sum of (A) the 30-day closing price trading average of one Share of common stock of the Issuer ("Share") and (B) the Aggregate Cash Distributions is equal to or greater than $19.12 on any day following the expiration of the post-offering lockup period or (ii) the sum of (X) the value of all consideration that is distributable with respect to one Share in connection with a Corporate Event and (Y) the Aggregate Cash Distributions is equal to or greater than $20.86 as of the effective date of such Corporate Event.