Jonathan H. Kaufman - 15 Jan 2025 Form 4 Insider Report for LIPELLA PHARMACEUTICALS INC. (LIPO)

Role
President, Chief Executive Officer, Secretary, Treasurer, and Chairman of the Board of Directors., Director, 10%+ Owner
Signature
/s/ Jonathan H. Kaufman
Issuer symbol
LIPO
Transactions as of
15 Jan 2025
Transactions value $
$0
Form type
4
Filing time
17 Jan 2025, 20:13:30 UTC
Previous filing
03 Jan 2025
Next filing
03 Mar 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 -303,041 -100% $0 0 15 Jan 2025 Common Stock 303,041 $1 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 -85,421 -100% $0 0 15 Jan 2025 Common Stock 85,421 $1 By Self as proxy and power of attorney for Spartan F1, F2
transaction LIPO Common Stock Purchase Warrants Other $0 -11,795 -100% $0 0 15 Jan 2025 Common Stock 11,795 $1 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") were 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 had 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").
F2 Upon the effectiveness of a registration statement registering the Securities as of January 15, 2025, such voting power granted to the reporting person by Spartan and such Affiliates was terminated. Please see the Proxy and POA attached as Exhibit 24 to the Form 4 filed by the reporting person with the U.S. Securities and Exchange Commission on January 3, 2025.
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.