Wexford Capital Lp - Jun 1, 2021 Form 4 Insider Report for NEPHROS INC (NEPH)

Role: Director, 10%+ Owner
Signature: Wexford Capital LP, By: Wexford GP LLC, its general partner, By: Arthur Amron, Vice President and Assistant Secretary
Stock symbol: NEPH
Transactions as of: Jun 1, 2021
Transactions value $: $0
Form type: 4
Date filed: 6/3/2021, 04:41 PM
Next filing: Jun 10, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NEPH	Common Stock	Exercise of in-the-money or at-the-money derivative security	$180K	+66.7K	+1.92%	$2.70	3.54M	Jun 1, 2021	See footnotes	F1, F2, F3, F4
holding	NEPH	Common Stock						106K	Jun 1, 2021	Direct

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	NEPH	Common Stock Warrants	Exercise of in-the-money or at-the-money derivative security	-$180K	-66.7K	-100%	$2.70	0	Jun 1, 2021	Common Stock	66.7K	$2.70	See footnote	F3, F4

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

Explanation of Responses:

Id	Content
F1	Represents the common stock of the Issuer acquired in connection with the exercise of 66,667 common stock warrants held in the aggregate by Wexford Partners 11, L.P., ("WP11"), WPIC 2 LLC ("WPIC2", and together with WP11, the "Wexford Entities") and Wexford 11 Advisors LLC ("WP Advisors").
F2	Represents the common stock of the Issuer held in the aggregate by the Wexford Entities, WP Advisors and Wexford Spectrum Trading Limited ("WST").
F3	Wexford Capital LP ("Wexford Capital") may, by reason of its status as (i) investment manager of WP11, (ii) manager of WPIC2 and (iii) sub-advisor of WST, be deemed to own beneficially the securities held by the Wexford Entities and WST. Wexford GP LLC ("Wexford GP") may, as the General Partner of Wexford Capital, be deemed to own beneficially the securities held by the Wexford Entities and WST. Each of Charles E. Davidson ("Davidson") and Joseph M. Jacobs ("Jacobs", and together with Wexford Capital, Wexford GP and Davidson, the "Reporting Persons") may, by reason of his status as a controlling person of Wexford GP and Wexford Advisors, be deemed to own beneficially the securities held by the Wexford Entities, Wexford Advisors and WST.
F4	Each of Wexford Capital, Wexford GP, Davidson and Jacobs share the power to vote and to dispose of the securities beneficially owned by the Wexford Entities and WST. Each of Davidson and Jacobs share the power to vote and to dispose of the securities beneficially owned by Wexford Advisors. Each of Wexford Capital, Wexford GP, Davidson and Jacobs disclaim beneficial ownership of the securities owned by the Wexford Entities, Wexford Advisors and/or WST, as applicable, and this report shall not be deemed as an admission that they are the beneficial owners of such securities, except to the extent of any pecuniary interests therein. The Reporting Persons may be deemed to be directors by deputization by virtue of Arthur Amron, an employee of Wexford Capital, serving as a director of the Issuer.