CHAI CHRISTOPHER Y

SEC source: 0001193125-26-224145 · ownership.xml · derivative · entry 1

CHAI CHRISTOPHER Y · CIK 0001413823 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,550

Underlying: Common Stock · 5,550 shares

Expires 2036-05-12

F1 · derivative.exercise_date: The options vest and become exercisable on the anniversary of the grant date, subject to continuous service as a director.

SEC source: 0001593968-25-000612 · primary_01.xml · derivative · entry 1

CHAI CHRISTOPHER Y · CIK 0001413823 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,333

Underlying: Common Stock · 1,333 shares

Expires 2035-05-14

F1 · derivative.exercise_date: The options vest and become exercisable on the anniversary of the grant date, subject to continuous service as a director.

SEC source: 0001593968-24-000828 · primary_01.xml · derivative · entry 1

CHAI CHRISTOPHER Y · CIK 0001413823 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,333

Underlying: Common Stock · 1,333 shares

Expires 2034-06-05

F1 · derivative.exercise_date: The options vest and become exercisable on the anniversary of the grant date, subject to continuous service as a director.

SEC source: 0001593968-23-000839 · primary_01.xml · derivative · entry 1

CHAI CHRISTOPHER Y · CIK 0001413823 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 20,000

Underlying: Common Stock · 20,000 shares

Expires 2033-05-18

SEC source: 0001593968-22-001113 · primary_01.xml · derivative · entry 1

CHAI CHRISTOPHER Y · CIK 0001413823 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,000

Underlying: Surrozen, Inc. Common Stock · 20,000 shares

Expires 2032-06-07

F1 · derivative.exercise_date: The options fully vest and become exercisable on the one-year anniversary of the grant date, subject to the reporting person's continuous service as a director.

SEC source: 0001209191-20-052224 · doc4.xml · derivative · entry 10

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 55,000 shares

Expires 2030-03-04

F4 · kind: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · price: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · derivative.exercise_date: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

SEC source: 0001209191-20-052224 · doc4.xml · derivative · entry 9

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 60,000 shares

Expires 2029-02-28

F4 · kind: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · price: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · derivative.exercise_date: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

SEC source: 0001209191-20-052224 · doc4.xml · derivative · entry 8

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 44,034 shares

Expires 2028-08-23

F4 · kind: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · price: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · derivative.exercise_date: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

SEC source: 0001209191-20-052224 · doc4.xml · derivative · entry 7

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 34,677 shares

Expires 2027-12-13

F4 · kind: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · price: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · derivative.exercise_date: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

SEC source: 0001209191-20-052224 · doc4.xml · derivative · entry 6

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 13,210 shares

Expires 2025-07-20

F4 · kind: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · price: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · derivative.exercise_date: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

SEC source: 0001209191-20-052224 · doc4.xml · derivative · entry 5

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 29,723 shares

Expires 2024-12-25

F4 · kind: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · price: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · derivative.exercise_date: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

SEC source: 0001209191-20-052224 · doc4.xml · derivative · entry 4

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 24,769 shares

Expires 2024-06-26

F4 · kind: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · price: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · derivative.exercise_date: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

SEC source: 0001209191-20-052224 · doc4.xml · derivative · entry 3

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 56,982 shares

Expires 2023-12-11

F4 · kind: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · price: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

F4 · derivative.exercise_date: Pursuant to the Merger Agreement, at the Effective Time, each of the unvested and outstanding options was accelerated and became fully vested, and each of the outstanding options was canceled and converted into the right to receive a cash amount equal to the product of (i) the number of shares that are subject to such options, multiplied by (ii) the excess (if any) of (x) $100.00 over (y) the exercise price payable per share under such options.

SEC source: 0001209191-20-052224 · doc4.xml · nonDerivative · entry 2

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 0

F1 · kind: Pursuant to the Agreement and Plan of Merger, dated as of August 16, 2020, by and among Principia Biopharma Inc. (the "Issuer"), Sanofi ("Sanofi") and Kortex Acquisition Corp. ("Purchaser") (the "Merger Agreement"), on September 28, 2020, Purchaser merged with and into the Issuer, with the Issuer continuing as the surviving corporation and a wholly owned subsidiary of Sanofi (the "Merger"). At the effective time of the Merger (the "Effective Time"), these shares were canceled in exchange for $100.00 per share in cash, without interest and subject to any applicable withholding taxes.

F3 · ownership.nature: Shares indirectly held by Christopher Chai, as a fiduciary for his children, of which the Reporting Person may be deemed to share voting and dispositive power over these shares.

SEC source: 0001209191-20-052224 · doc4.xml · nonDerivative · entry 1

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · kind: Pursuant to the Agreement and Plan of Merger, dated as of August 16, 2020, by and among Principia Biopharma Inc. (the "Issuer"), Sanofi ("Sanofi") and Kortex Acquisition Corp. ("Purchaser") (the "Merger Agreement"), on September 28, 2020, Purchaser merged with and into the Issuer, with the Issuer continuing as the surviving corporation and a wholly owned subsidiary of Sanofi (the "Merger"). At the effective time of the Merger (the "Effective Time"), these shares were canceled in exchange for $100.00 per share in cash, without interest and subject to any applicable withholding taxes.

F2 · shares: Includes 260 shares acquired under the Employment Stock Purchase Plan on September 25, 2020.

SEC source: 0001209191-20-047832 · doc4.xml · derivative · entry 4

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 56,982

Underlying: Common Stock · 7,500 shares

Expires 2023-12-11

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_date: The stock option is fully vested and immediately exercisable.

SEC source: 0001209191-20-047832 · doc4.xml · nonDerivative · entry 2

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,539

F1 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.

F2 · price: Represents the weighted average sales price per share. The shares sold at prices ranging from $99.28 to $99.50 per share. Upon request by the Commission staff, Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

SEC source: 0001209191-20-047832 · doc4.xml · nonDerivative · entry 1

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,039

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001209191-20-031531 · doc4.xml · derivative · entry 4

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 64,482

Underlying: Common Stock · 5,675 shares

Expires 2023-12-11

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_date: The stock option is fully vested and immediately exercisable.

SEC source: 0001209191-20-031531 · doc4.xml · nonDerivative · entry 2

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,539

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.

F3 · price: Represents the weighted average sales price per share. The shares sold at prices ranging from $64.90 to $65.71 per share. Upon request by the Commission staff, Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

SEC source: 0001209191-20-031531 · doc4.xml · nonDerivative · entry 1

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,039

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · balance_after: Includes 598 shares acquired under the Employment Stock Purchase Plan on May 15, 2020.

SEC source: 0001209191-20-016690 · doc4.xml · derivative · entry 1

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 55,000

Underlying: Common Stock · 55,000 shares

Expires 2030-03-04

F1 · derivative.exercise_date: The stock option vests and becomes exercisable as to 25% of the shares subject to the option on March 5, 2021, and thereafter vests as to 1/48th of the shares in equal monthly installments, until such time as the option is 100% vested, subject to the continuing employment of the Reporting Person on each vesting date.

SEC source: 0001209191-20-011163 · doc4.xml · derivative · entry 9

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 70,157

Underlying: Common Stock · 2,500 shares

Expires 2023-12-11

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F10 · derivative.exercise_date: The stock option is fully vested and immediately exercisable.

SEC source: 0001209191-20-011163 · doc4.xml · nonDerivative · entry 7

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,766

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.

F8 · price: Represents the weighted average sales price per share. The shares sold at prices ranging from $68.48 to $68.66 per share. Upon request by the Commission staff, Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

SEC source: 0001209191-20-011163 · doc4.xml · nonDerivative · entry 6

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,842

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.

F7 · price: Represents the weighted average sales price per share. The shares sold at prices ranging from $67.46 to $68.415 per share. Upon request by the Commission staff, Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

SEC source: 0001209191-20-011163 · doc4.xml · nonDerivative · entry 5

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,082

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.

F6 · price: Represents the weighted average sales price per share. The shares sold at prices ranging from $66.45 to $67.44 per share. Upon request by the Commission staff, Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

SEC source: 0001209191-20-011163 · doc4.xml · nonDerivative · entry 4

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,687

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.

F5 · price: Represents the weighted average sales price per share. The shares sold at prices ranging from $65.41 to $66.33 per share. Upon request by the Commission staff, Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

SEC source: 0001209191-20-011163 · doc4.xml · nonDerivative · entry 3

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,037

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.

F4 · price: Represents the weighted average sales price per share. The shares sold at prices ranging from $64.30 to $65.19 per share. Upon request by the Commission staff, Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

SEC source: 0001209191-20-011163 · doc4.xml · nonDerivative · entry 2

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,582

F2 · kind: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.

F3 · price: Represents the weighted average sales price per share. The shares sold at prices ranging from $63.14 to $63.88 per share. Upon request by the Commission staff, Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

SEC source: 0001209191-20-011163 · doc4.xml · nonDerivative · entry 1

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,266

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · balance_after: Includes 1,991 shares and 950 shares acquired under the Employment Stock Purchase Plan on May 15, 2019 and November 15, 2019 respectively.

SEC source: 0001209191-19-018221 · doc4.xml · derivative · entry 1

CHAI CHRISTOPHER Y · CIK 0001413823 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 60,000

Underlying: Common Stock · 60,000 shares

Expires 2029-02-28

F1 · derivative.exercise_date: The stock option vests and becomes exercisable as to 25% of the shares subject to the option on March 1, 2020, and thereafter vests as to 1/48th of the shares in equal monthly installments, until such time as the option is 100% vested, subject to the continuing employment of the Reporting Person on each vesting date.