Jack Nielsen - Nov 9, 2021 Form 4 Insider Report for IO Biotech, Inc. (IOBT)

Role: Director
Signature: /s/ Brian Burkavage, Attorney-in-Fact for Jack B. Nielsen
Stock symbol: IOBT
Transactions as of: Nov 9, 2021
Transactions value $: $9,100,000
Form type: 4
Date filed: 11/12/2021, 03:15 PM
Previous filing: Nov 4, 2021
Next filing: Mar 21, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IOBT	Common Stock	Conversion of derivative security		+2.37M			2.37M	Nov 9, 2021	See footnote	F1, F2
transaction	IOBT	Common Stock	Purchase	$9.1M	+650K	+27.48%	$14.00^*	3.02M	Nov 9, 2021	See footnote	F2

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	IOBT	Series C Preferred Stock	Conversion of derivative security	$0	-188K	-100%	$0.00^*	0	Nov 9, 2021	Common Stock	2.37M		See footnote	F1, F2

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

Explanation of Responses:

Id	Content
F1	Upon the closing of the Issuer's initial public offering, each share of Series C Preferred Stock beneficially owned by the reporting person automatically converted, for no additional consideration, into the number of shares of Common Stock reported in Column 7 of Table II. These shares of Series C Preferred Stock had no expiration date.
F2	The securities are held by Vivo Capital Fund IX, L.P. ("Fund IX"). Vivo Capital IX, LLC ("Capital IX") is the general partner of Fund IX. The reporting person is a managing member of Capital IX and may be deemed to share voting and investment power with respect to the shares beneficially owned by Fund IX and disclaims Section 16 beneficial ownership of such securities held by Fund IX, except to the extent of his pecuniary interest therein, if any.

Content

Upon the closing of the Issuer's initial public offering, each share of Series C Preferred Stock beneficially owned by the reporting person automatically converted, for no additional consideration, into the number of shares of Common Stock reported in Column 7 of Table II. These shares of Series C Preferred Stock had no expiration date.

The securities are held by Vivo Capital Fund IX, L.P. ("Fund IX"). Vivo Capital IX, LLC ("Capital IX") is the general partner of Fund IX. The reporting person is a managing member of Capital IX and may be deemed to share voting and investment power with respect to the shares beneficially owned by Fund IX and disclaims Section 16 beneficial ownership of such securities held by Fund IX, except to the extent of his pecuniary interest therein, if any.