Savara Inc — Director's Dealing 2019

May 3, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Savara Inc (SVRA)
CIK: 0001160308
Period of Report: 2019-05-01

Reporting Person: Lowrance David L (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-05-01	Common Stock	M	3800	$1.51	Acquired	3800	Direct
2019-05-01	Common Stock	S	3800	$10.7639	Disposed	0	Direct
2019-05-02	Common Stock	M	3700	$1.51	Acquired	3700	Direct
2019-05-02	Common Stock	S	3700	$10.8172	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-05-01	Employee Stock Option (right to buy)	$1.51	M	3800	Disposed	2026-10-25	Common Stock (3800)	Direct
2019-05-02	Employee Stock Option (right to buy)	$1.51	M	3700	Disposed	2026-10-25	Common Stock (3700)	Direct

Footnotes

F1: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 26, 2018.

F2: The price is a weighted average sale price. The sale prices ranged from $10.55 to $11.10. The reporting person undertakes to provide Savara Inc., any security holder of Savara Inc., or the staff of the Securities and Exchange Commission, upon receipt of a request, full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

F3: The price is a weighted average sale price. The sale prices ranged from $10.68 to $11.02. The reporting person undertakes to provide Savara Inc., any security holder of Savara Inc., or the staff of the Securities and Exchange Commission, upon receipt of a request, full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

F4: The shares subject to the option vest and become exercisable in sixteen equal installments on each quarterly anniversary of October 25, 2016, subject to the reporting person's continued service with Savara Inc.