Eargo (EAR) CFO Thorpe returned to the company 32 shares

Insider transactions reported

Mark Thorpe (CFO & Cao at Eargo Inc., EAR) reported that they returned to the company 32 shares on Feb 16, 2024. After these transactions the filing shows 0 shares held directly.

Reporting person

Thorpe Mark

Role

CFO & CAO

Options and other derivatives

Holdings before and after

• Common Stock: 32 to 0 direct
• Stock Option (Right to Buy): 20,000 to 0 direct

Footnotes from the filing

1. 1. Pursuant to the Agreement and Plan of Merger, dated October 29, 2023, by and among PSC Echo Parent LLC, PSC Echo Merger Sub Inc., and Eargo (the Merger Agreement ), at the effective time of the merger (the Effective Time ), each award of Eargo restricted stock units ( RSUs ) held by the reporting person and granted under the Eargo, Inc. 2020 Incentive Award Plan or the Eargo, Inc. 2010 Equity Incentive Plan was converted into the right to receive an amount in cash, without interest and subject to applicable tax withholding (the RSU Cash Replacement Award ), equal to the product of (i) the merger consideration of $2.55 per share in cash (the Merger Consideration ) and (ii) the total number of shares of Eargo's common stock ( Shares ) subject to such RSU as of immediately prior to the Effective Time, which such RSU Cash Replacement Awards to have the same terms and conditions
2. 2. (including with respect to vesting) as applied to the RSU for which they were exchanged, except for terms rendered inoperative by reason of the Merger Agreement or for such other administrative or ministerial changes that are reasonable and made in good faith to conform the administration of the RSU Cash Replacement Awards. Each RSU represented a right to receive one Share.
3. 3. Pursuant to the Merger Agreement, at the Effective Time, each award of Eargo stock options ( Options ) held by the reporting person and granted under the Eargo, Inc. 2020 Incentive Award Plan or the Eargo, Inc. 2010 Equity Incentive Plan that was outstanding and unexercised immediately prior to or upon the Effective Time, whether vested or unvested, was cancelled, with the holder of such Option becoming entitled to receive an amount in cash, without interest and subject to applicable tax withholding, equal to the product obtained by multiplying (i) the excess, if any, of the Merger Consideration over the per share exercise price of such Option, by (ii) the number of Shares covered by such Option immediately prior to and upon the Effective Time, with any Options that have a per share exercise price that is greater than or equal to the Merger Consideration being cancelled for no consideration as of the Effective Time.

Transaction codes in this filing

Sale back to the company:

Code D marks a disposition back to the company under an exempt plan, as opposed to a sale in the market.

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