PAVmed Inc. — Director's Dealing 2016

May 27, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAVmed Inc. (PAVM)
CIK: 0001624326
Period of Report: 2016-05-25

Reporting Person: Aklog Lishan (Director, Chairman and CEO, 10% Owner)
Reporting Person: HCFP/Capital Partners III LLC (10% Owner)
Reporting Person: Pavilion Venture Partners LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-25	Common Stock	P	2500	—	Acquired	12500	Direct
2016-05-26	Common Stock	P	1500	—	Acquired	14000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-25	Warrants	$5.00	P	2500	Acquired	2022-01-29	Common Stock (2500)	Direct
2016-05-26	Warrants	$5.00	P	1500	Acquired	2022-01-29	Common Stock (1500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5713879	Indirect
Common Stock	2520532	Indirect
Common Stock	87020	Indirect
Common Stock	125000	Indirect
Common Stock	20000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Warrants	$5.00	2022-01-29	Common Stock (5713879)	5713879	Indirect
Warrants	$5.00	2022-01-29	Common Stock (12000)	2220532	Indirect
Warrants	$5.00	2022-01-29	Common Stock (87020)	387020	Indirect
Warrants	$5.00	2022-01-29	Common Stock (125000)	125000	Indirect
Warrants	$5.00	2022-01-29	Common Stock (20000)	20000	Indirect

Footnotes

F1: The reporting person purchased units, each unit consisting of one share of the issuer's common stock and one warrant. Each warrant entitles the holder to purchase one share of the issuer's common stock at an exercise price of $5.00 per share, subject to adjustment.The units were purchased at an weighted average price of approximately $9.737188 per unit. These units were purchased in multiple transactions at prices ranging from $9.52 to $9.75, inclusive. The reporting person undertakes to provide to PAVmed Inc., any security holder of PAVmed Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of units sold at each separate price within the ranges set forth this footnote to this Form 4.

F2: The reporting person purchased units, each unit consisting of one share of the issuer's common stock and one warrant. Each warrant entitles the holder to purchase one share of the issuer's common stock at an exercise price of $5.00 per share, subject to adjustment.The units were purchased at an weighted average price of approximately $10.45186 per unit. These units were purchased in multiple transactions at prices ranging from $9.9632 to $11.1874, inclusive. The reporting person undertakes to provide to PAVmed Inc., any security holder of PAVmed Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of units sold at each separate price within the ranges set forth in Footnote 1 and 3 to this Form 4.

F3: Dr. Aklog is a member and a co-manager of HCFP/Capital Partners III LLC, and shares joint voting and dispositive power over the shares held by this entity. Dr. Aklog disclaims beneficial ownership of shares held by this entity, except to the extent of his proportionate pecuniary interest therein.

F4: Dr. Aklog is a member and sole manager of Pavilion Venture Partners LLC, and has sole voting and dispositive power over the shares held by this entity. Dr. Aklog disclaims beneficial ownership of shares held by this entity, except to the extent of his proportionate pecuniary interest therein.

F5: Dr. Aklog is a controlling shareholder of HCFP Inc., and shares joint voting and dispositive power over the shares held by this entity. Dr. Aklog disclaims beneficial ownership of shares held by this entity, except to the extent of his proportionate pecuniary interest therein.

F6: Dr. Aklog is a member and a co-manager of the entity that acts as sole manager of HCFP/Capital Partners IIIB LLC, and shares joint voting and dispositive power over the shares held by this entity. Dr. Aklog disclaims beneficial ownership of shares held by this entity, except to the extent of his pecuniary interest therein.

F7: Dr. Aklog is a co-manager of HCFP/AG LLC, and shares joint voting and dispositive power over the shares held by this entity. Dr. Aklog disclaims beneficial ownership of shares held by this entity, except to the extent of his pecuniary interest therein.