Cue Health Inc. Form 4 — Sever Clint (Sept. 27, 2022)

Summary

A Form 4 filed with the Securities and Exchange Commission for Clint Sever, Chief Product Officer of Cue Health Inc., covering option exercises and sales on three days under a rule 10b5-1 trading plan adopted on June 6, 2022 for the orderly sale of shares from options scheduled to expire on December 31, 2022. The reporting person exercised options at $0.2 and sold the shares: 19,215 on 09/27/2022 at a weighted average of $2.94, 34,113 on 09/28/2022 at $3.07, and 19,290 on 09/29/2022 at $2.94. After each sale the direct ownership returned to 3,950,280 shares, and 407,422 options remained. The form is signed by Erica Palsis, Attorney-in-Fact, and dated 09/29/2022.

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Full text

SEC Form 4

FORM 4 | 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 or Section 30(h) of the Investment Company Act of 1940 | OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5 | OMB APPROVAL | OMB Number: 3235-0287 Estimated average burden hours per response: 0.5 | OMB Number: | 3235-0287 | Estimated average burden | hours per response: | 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person * Sever Clint (Last) (First) (Middle) C/O CUE HEALTH INC. 4980 CARROLL CANYON RD. SUITE 100 (Street) SAN DIEGO CA 92121 (City) (State) (Zip) | Sever Clint | (Last) | (First) | (Middle) | C/O CUE HEALTH INC. | 4980 CARROLL CANYON RD. SUITE 100 | SAN DIEGO | CA | 92121 | (City) | (State) | (Zip) | 2. Issuer Name and Ticker or Trading Symbol Cue Health Inc. [ HLTH ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Chief Product Officer | Director | 10% Owner | X | Officer (give title below) | Other (specify below) | Chief Product Officer
3. Date of Earliest Transaction
 (Month/Day/Year) 09/27/2022
4. If Amendment, Date of Original Filed
 (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person | X | Form filed by One Reporting Person | Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr.
 3) | 2. Transaction Date
 (Month/Day/Year) | 2A. Deemed Execution Date, if any
 (Month/Day/Year) | 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 | 09/27/2022 | M (1) | 19,215 | A | $ 0.2 | 3,969,495 | D
Common Stock | 09/27/2022 | S (1) | 19,215 | D | $ 2.94 (2) | 3,950,280 | D
Common Stock | 09/28/2022 | M (1) | 34,113 | A | $ 0.2 | 3,984,393 | D
Common Stock | 09/28/2022 | S (1) | 34,113 | D | $ 3.07 (3) | 3,950,280 | D
Common Stock | 09/29/2022 | M (1) | 19,290 | A | $ 0.2 | 3,969,570 | D
Common Stock | 09/29/2022 | S (1) | 19,290 | D | $ 2.94 (4) | 3,950,280 | 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
 (Month/Day/Year) | 3A. Deemed Execution Date, if any
 (Month/Day/Year) | 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
 (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (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: 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
Employee Stock Option (right to buy) | $ 0.2 | 09/27/2022 | M (1) | 19,215 | (5) | 12/31/2022 | Common Stock | 19,215 | $ 0 | 460,825 | D
Employee Stock Option (right to buy) | $ 0.2 | 09/28/2022 | M (1) | 34,113 | (5) | 12/31/2022 | Common Stock | 34,113 | $ 0 | 426,712 | D
Employee Stock Option (right to buy) | $ 0.2 | 09/29/2022 | M (1) | 19,290 | (5) | 12/31/2022 | Common Stock | 19,290 | $ 0 | 407,422 | D
Explanation of Responses:
1. The transactions reported on this Form 4 were automatically effected pursuant to a rule 10b5-1 trading plan adopted on June 6, 2022 and established by the reporting person for the purpose of an orderly sale of shares related to the exercises of options scheduled to expire on December 31, 2022.
2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.88 to $3.00, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2), (3) and (4) to this Form 4.
3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.94 to $3.135, inclusive.
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.89 to $3.02, inclusive.
5. Shares subject to the option are fully vested and immediately exercisable.
Remarks:
/s/ Erica Palsis, Attorney-in-Fact for Clint Sever | 09/29/2022
** Signature of Reporting Person | Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
 4

 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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www.sec.gov