Sec Form 4 Filing - Foresite Capital Management III, LLC @ Aclaris Therapeutics, Inc. - 2021-11-01

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Foresite Capital Management III, LLC 2. Issuer Name and Ticker or Trading Symbol Aclaris Therapeutics, Inc. [ ACRS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 900 LARKSPUR LANDING CIRCLE, SUITE 150 3. Date of Earliest Transaction (MM/DD/YY) 11/01/2021 (Street) LARKSPUR, CA94939 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 11/01/2021 J( 1 ) 1,954,904 D $ 0 0 I See Footnote ( 2 ) Common Stock 3,399,034 I See Footnote ( 3 ) Common Stock 1,258,243 I See Footnote ( 4 ) Common Stock 11/01/2021 J( 5 ) V 8,276 A $ 0 8,276 I See Footnote ( 6 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Foresite Capital Management III, LLC 900 LARKSPUR LANDING CIRCLE SUITE 150 LARKSPUR, CA94939 X Foresite Capital Fund III, L.P. 900 LARKSPUR LANDING CIRCLE SUITE 150 LARKSPUR, CA94939 X Foresite Capital Management IV, LLC 900 LARKSPUR LANDING CIRCLE SUITE 150 LARKSPUR, CA94939 X Foresite Capital Fund IV, L.P. 900 LARKSPUR LANDING CIRCLE SUITE 150 LARKSPUR, CA94939 X Foresite Capital Management V, LLC 900 LARKSPUR LANDING CIRCLE SUITE 150 LARKSPUR, CA94939 X Foresite Capital Fund V, L.P. 900 LARKSPUR LANDING CIRCLE SUITE 150 LARKSPUR, CA94939 X Tananbaum James B. 900 LARKSPUR LANDING CIRCLE SUITE 150 LARKSPUR, CA94939 X Signatures FORESITE CAPITAL MANAGEMENT III, LLC, By: /s/ James B. Tananbaum, Managing Member 11/03/2021 Signature of Reporting Person Date FORESITE CAPITAL FUND III, L.P., By: Foresite Capital Management III, LLC, Its: General Partner, By: /s/ James B. Tananbaum, Managing Member 11/03/2021 Signature of Reporting Person Date FORESITE CAPITAL MANAGEMENT IV, LLC, By: /s/ James B. Tananbaum, Managing Member 11/03/2021 Signature of Reporting Person Date FORESITE CAPITAL FUND IV, L.P., By: Foresite Capital Management IV, LLC, Its: General Partner, By: /s/ James B. Tananbaum, Managing Member 11/03/2021 Signature of Reporting Person Date FORESITE CAPITAL MANAGEMENT V, LLC, By: /s/ James B. Tananbaum, Managing Member 11/03/2021 Signature of Reporting Person Date FORESITE CAPITAL FUND V, L.P., By: Foresite Capital Management V, LLC, Its: General Partner, By: /s/ James B. Tananbaum, Managing Member 11/03/2021 Signature of Reporting Person Date James B. Tananbaum /s/ James B. Tananbaum 11/03/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On November 1, 2021, Foresite Capital Fund III, L.P. ("Fund III") distributed, for no consideration, 1,954,904 shares of the Issuer's Common Stock (the "Fund III Shares") to its limited partners and to Foresite Capital Management III, LLC ("FCM III"), the general partner of Fund III, representing each such partner's pro rata interest in such Fund III Shares. On the same date, FCM III distributed, for no consideration, the Fund III Shares it received in the distribution by Fund III to its members, representing each such member's pro rata interest in such Fund III Shares. All of the aforementioned distributions were made in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Securities Exchange Act of 1934, as amended. ( 2 )The shares are owned directly by Fund III. FCM III is the general partner of Fund III, may be deemed to have sole voting and dispositive power over these shares. James B. Tananbaum ("Mr. Tananbaum") is the sole managing member of FCM III and may be deemed to have sole voting and dispositive power over these shares. Each Reporting Person disclaims the existence of a "group." Each of FCM III and Mr. Tananbaum disclaims beneficial ownership of any of these shares except to the extent of any pecuniary interest therein, and the filing of this report is not an admission that FCM III or Mr. Tananbaum is the beneficial owner of these shares for purposes of Section 16 or any other purpose. ( 3 )The shares are owned directly by Foresite Capital Fund IV, L.P. ("Fund IV"). Foresite Capital Management IV, LLC ("FCM IV") is the general partner of Fund IV and may be deemed to have sole voting and dispositive power over these shares. Mr. Tananbaum is the sole managing member of FCM IV and may be deemed to have sole voting and dispositive power over these shares. Each Reporting Person disclaims the existence of a "group." Each of FCM IV and Mr. Tananbaum disclaims beneficial ownership of these shares except to the extent of any pecuniary interest therein, and the filing of this report is not an admission that FCM IV or Mr. Tananbaum is the beneficial owner of these shares for purposes of Section 16 or any other purpose. ( 4 )The shares are owned directly by Foresite Capital Fund V, L.P. ("Fund V"). Foresite Capital Management V, LLC ("FCM V") is the general partner of Fund V and may be deemed to have sole voting and dispositive power over these shares. Mr. Tananbaum is the sole managing member of FCM V and may be deemed to have sole voting and dispositive power over these shares. Each Reporting Person disclaims the existence of a "group." Each of FCM V and Mr. Tananbaum disclaims beneficial ownership of these shares except to the extent of any pecuniary interest therein, and the filing of this report is not an admission that FCM V or Mr. Tananbaum is the beneficial owner of these shares for purposes of Section 16 or any other purpose. ( 5 )Represents shares received by the James B. Tananbaum and Dana Shonfeld Tananbaum Family Trust pursuant to pro rata distributions by Fund III and FCM III, for no consideration, of shares of the Issuer's Common Stock to their respective partners or members, as applicable. All of the aforementioned distributions were made in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Securities Exchange Act of 1934, as amended. ( 6 )These shares are held of record by a family trust for which Mr. Tananbaum is a trustee. Each of the Reporting Persons disclaims the existence of a "group" and, other than Mr. Tananbaum, disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that any such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any.

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