Jonathan H. Kaufman - 31 Dec 2024 Form 4 Insider Report for LIPELLA PHARMACEUTICALS INC. (LIPO)

Role
Officer, Director, 10%+ Owner
Signature
/s/ Jonathan H. Kaufman
Issuer symbol
LIPO
Transactions as of
31 Dec 2024
Net transactions value
$0
Form type
4
Filing time
03 Jan 2025, 21:22:55 UTC
Previous filing
27 Dec 2024
Next filing
17 Jan 2025
SEC
View on sec.gov

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 LIPO Series C Voting Convertible Preferred Stock Other $0 +42,933 +17% $0.000000 303,041 31 Dec 2024 Common Stock 42,933 $1.00 By Self as proxy and power of attorney for Spartan and an Affiliate (each as defined below) F1, F2, F3
transaction LIPO Common Stock Purchase Warrants Other $0 +11,795 $0.000000 11,795 31 Dec 2024 Common Stock 11,795 $1.00 By Self as proxy and power of attorney for Spartan F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Such Series C Voting Convertible Preferred Stock, par value $0.0001 per share ("Preferred Stock"), and the common stock, par value $0.0001 per share, of the issuer ("Common Stock"), issuable upon conversion of Preferred Stock ("Conversion Shares") and exercise of the Common Stock purchase warrants (the "Warrant Shares", and collectively with the Preferred Stock and Conversion Shares, "Securities") are subject to an irrevocable proxy and power of attorney, effective December 20, 2024, between the reporting person and Spartan Capital Securities, LLC ("Spartan"), pursuant to which the reporting person has voting power over all Securities held by Spartan and its Affiliates (defined under Rule 405 of the Securities Act of 1933, as amended) or any person or entity acting as a group therewith ("Proxy and POA"). The reporting person disclaims beneficial ownership of the Securities and such warrants except to the extent of his pecuniary interest therein, if any.
F2 Each share of Preferred Stock is convertible into shares of Common Stock on or after the date on which the registration statement filed by the issuer registering the reoffer and resale of the Conversion Shares has been declared effective by the U.S. Securities Exchange Commission.
F3 The conversion rights of the Preferred Stock do not expire.

Remarks:

President, Chief Executive Officer, Secretary, Treasurer, and Chairman of the Board of Directors. Exhibit List: Exhibit 24 - Proxy and POA