Sec Form 4 Filing - Bermingham Nessan @ Korro Bio, Inc. - 2023-11-03

Insider filing report for Changes in Beneficial Ownership
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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
Bermingham Nessan
2. Issuer Name and Ticker or Trading Symbol
Korro Bio, Inc. [ KRRO]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
C/O KORRO BIO, INC., ONE KENDALL SQUARE, BUILDING 600-700
3. Date of Earliest Transaction (MM/DD/YY)
11/03/2023
(Street)
CAMBRIDGE, MA02139
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ 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 11/03/2023 A( 1 ) 35,114 ( 1 ) A 35,114 D
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
Stock Option (Right to Buy) $ 11.68 ( 2 ) 11/03/2023 A( 2 ) 67,061 ( 2 ) ( 3 ) 08/13/2030 Common Stock 67,061 ( 2 ) ( 2 ) ( 4 ) 67,061 D
Stock Option (Right to Buy) $ 20.94 ( 2 ) 11/03/2023 A( 2 ) 24,712 ( 2 ) ( 5 ) 02/08/2033 Common Stock 24,712 ( 2 ) ( 2 ) ( 6 ) 24,712 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Bermingham Nessan
C/O KORRO BIO, INC.
ONE KENDALL SQUARE, BUILDING 600-700
CAMBRIDGE, MA02139
X
Signatures
/s/ Shelby Walker, Attorney-in-fact 11/07/2023
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Received in exchange for 706,702 shares of common stock of Korro Bio Ops, Inc. (f/k/a Korro Bio, Inc., "Legacy Korro") pursuant to an Agreement and Plan of Merger dated as of July 14, 2023 (the "Merger Agreement") by and among Legacy Korro, the Issuer (f/k/a Frequency Therapeutics, Inc.) and Frequency Merger Sub, Inc., a wholly owned subsidiary of the Issuer ("Merger Sub"). Under the terms of the Merger Agreement, on November 3, 2023, Merger Sub merged with and into Legacy Korro (the "Merger"), with Legacy Korro surviving the Merger as a wholly owned subsidiary of the Issuer. Upon the closing of the Merger, each share of Legacy Korro common stock was converted into the right to receive 0.049688 of a share of the Issuer's common stock, after giving effect to a reverse stock split of the Issuer's common stock of 1-for-50. Subsequent to the Merger, the name of the Issuer was changed from Frequency Therapeutics, Inc. to Korro Bio, Inc.
( 2 )Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Korro common stock issued under the Korro Bio, Inc. 2019 Stock Incentive Plan (the "2019 Plan") was assumed by the Issuer and converted into an option to purchase the Issuer's common stock, on the same terms and conditions as were applicable under the 2019 Plan prior to the Merger, as adjusted for the exchange ratio and the reverse stock split.
( 3 )The shares subject to the option are fully vested and immediately exercisable.
( 4 )Received in exchange for a stock option to acquire 1,349,645 shares of Legacy Korro common stock issued under the 2019 Plan pursuant to the Merger Agreement.
( 5 )The shares subject to the option vest in 48 equal monthly installments commencing from August 14, 2022, subject to the Reporting Person's continued service on each such vesting date.
( 6 )Received in exchange for a stock option to acquire 497,347 shares of Legacy Korro common stock issued under the 2019 Plan pursuant to the Merger Agreement.

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