Hilz Mark T - Jun 14, 2022 Form 3 Insider Report for Heart Test Laboratories, Inc. (HSCS)

Role
Chief Operating Officer and Secretary, Director
Signature
/s/ Mark Hilz
Stock symbol
HSCS
Transactions as of
Jun 14, 2022
Transactions value $
$0
Form type
3
Date filed
7/6/2022, 01:40 PM
Next filing
Mar 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding HSCS Common Stock 442K Jun 14, 2022 Direct
holding HSCS Common Stock 4.04K Jun 14, 2022 By Daughter

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
holding HSCS Warrants Jun 14, 2022 Common Stock 30 $2.89 Direct
holding HSCS Warrants Jun 14, 2022 Common Stock 379 $3.47 Direct
holding HSCS Warrants Jun 14, 2022 Common Stock 644 $3.47 Direct
holding HSCS Series C Convertible Preferred Stock Jun 14, 2022 Common Stock 7.89K $6.59 Direct F1
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 18.9K $12.21 Direct F2
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 3.79K $12.21 Direct F3
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 7.58K $15.18 Direct F4
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 7.58K $15.18 Direct F5
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 7.58K $15.18 Direct F6
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 7.58K $15.18 Direct F7
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 7.58K $15.18 Direct F8
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 7.58K $15.18 Direct F9
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 22.7K $1.29 Direct F10
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 30.3K $1.29 Direct F11
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 26.5K $1.29 Direct F12
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 26.5K $1.29 Direct F13
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 26.5K $3.47 Direct F14
holding HSCS Employee Stock Option (Right to Buy) Jun 14, 2022 Common Stock 26.5K $3.47 Direct F15
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Convertible Preferred Stock may be converted at any time, at the Holder's election and there is no expiration. The conversion ratio is 3.7954 shares of Common Stock for each share of Series C Preferred Stock.
F2 The entire option has become fully-vested and may be exercised at any time at the Holder's election.
F3 The option becomes fully-vested and may be exercised at any time at Holder's election upon the achievement of performance-based criteria related to approval by the U.S. Food and Drug Administration of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied.
F4 The option becomes fully-vested and may be exercised at any time at Holder's election upon the achievement of performance-based criteria related to approval by the U.S. Food and Drug Administration of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied.
F5 The option becomes fully-vested and may be exercised at any time at Holder's election upon the Company having one calendar quarter of positive EBITDA. As of the date of this filing, the performance-based criteria have not been satisfied.
F6 The option becomes fully-vested and may be exercised at any time at Holder's election upon the sale of a specified number of units of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied.
F7 The option becomes fully-vested and may be exercised at any time at Holder's election upon the achievement of performance-based criteria related to approval by the U.S. Food and Drug Administration of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied.
F8 The option becomes fully-vested and may be exercised at any time at Holder's election upon the Company having one calendar quarter of positive EBITDA. As of the date of this filing, the performance-based criteria have not been satisfied.
F9 The option becomes fully-vested and may be exercised at any time at Holder's election upon the sale of a specified number of units of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied.
F10 The option becomes fully-vested and may be exercised at any time at Holder's election upon the achievement of performance-based criteria related to approval by the U.S. Food and Drug Administration of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied.
F11 The entire option has become fully-vested and may be exercised at any time at the Holder's election.
F12 The option becomes fully-vested and may be exercised at any time at Holder's election upon the achievement of performance-based criteria related to approval by the U.S. Food and Drug Administration of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied.
F13 The option becomes fully-vested and may be exercised at any time at Holder's election upon the receipt of at least $15 million pursuant to the Company's sale of debt or equity securities or borrowings from any debt financing source. As of the date of this filing, the performance-based criteria have not been satisfied.
F14 The entire option has become fully-vested and may be exercised at any time at the Holder's election.
F15 The option becomes fully-vested and may be exercised at any time at Holder's election upon the achievement of performance-based criteria related to approval by the U.S. Food and Drug Administration of certain of the Company's products. As of the date of this filing, the performance-based criteria have not been satisfied.

Remarks:

Chief Operating Officer and Secretary