Arvin Yang - 30 Nov 2021 Form 4 Insider Report for Mersana Therapeutics, Inc. (MRSN)

Role: Chief Medical Officer
Signature: Brian DeSchuytner, as Attorney-in-Fact
Issuer symbol: MRSN
Transactions as of: 30 Nov 2021
Transactions value $: $-37,639
Form type: 4
Filing time: 02 Dec 2021, 16:00:27 UTC
Next filing: 19 Jan 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MRSN	Common Stock	Options Exercise		+18,500			18,500	30 Nov 2021	Direct	F1
transaction	MRSN	Common Stock	Sale	$-37,639	-5,527	-29.9%	$6.81^*	12,973	01 Dec 2021	Direct	F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MRSN	Restricted Stock Units	Options Exercise	$0	-18,500	-50%	$0.000000	18,500	30 Nov 2021	Common Stock	18,500		Direct	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock upon settlement.
F2	Represents the number of shares sold by the reporting person to cover tax withholding obligations in connection with the vesting of the RSUs listed in Table II. These sales were mandated by the Issuer's election under its equity incentive plans to require the reporting person to sell a number of shares of common stock needed to satisfy his tax withholding obligations and does not represent a discretionary trade by the reporting person.
F3	The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $6.68 to $7.00, inclusive. The reporting person undertakes to provide to Mersana Therapeutics, Inc., any security holder of Mersana Therapeutics, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.
F4	50% of the total number of RSUs vested on November 30, 2021, and the remainder of the total number of RSUs shall vest on November 30, 2022.