SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Pepe Jeffrey C.

(Last)

(First)

(Middle)

C/O SILVERBACK THERAPEUTICS, INC.

500 FAIRVIEW AVENUE N, SUITE 600

(Street)

SEATTLE

98109

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/02/2022

3. Issuer Name and Ticker or Trading Symbol
Silverback Therapeutics, Inc. [ SBTX ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Interim CEO and GC

5. 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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	52,323	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock option (right to buy)	⁽¹⁾	09/10/2029	Common Stock	35,407	$1.68	D
Stock option (right to buy)	⁽²⁾	04/28/2030	Common Stock	22,401	$1.27	D
Stock option (right to buy)	⁽³⁾	04/28/2030	Common Stock	17,619	$1.27	D
Stock option (right to buy)	⁽⁴⁾	04/28/2030	Common Stock	18,268	$1.27	D
Stock option (right to buy)	⁽⁵⁾	09/30/2030	Common Stock	26,932	$6.65	D
Stock option (right to buy)	⁽⁶⁾	12/02/2030	Common Stock	102,039	$21	D
Stock option (right to buy)	⁽⁷⁾	01/31/2032	Common Stock	45,000	$4.85	D
Stock option (right to buy)	⁽⁸⁾	01/31/2032	Common Stock	28,500	$4.85	D
Stock option (right to buy)	⁽⁹⁾	05/01/2032	Common Stock	79,261	$3.15	D

Explanation of Responses:

1. 25% of the shares subject to the option vested on August 19, 2020, and the remaining shares will vest monthly thereafter over three years.

2. 25% of the shares subject to the option vested on March 4, 2021, and the remaining shares will vest monthly thereafter over three years.

3. 25% of the shares subject to the option vested on July 1, 2021, and the remaining shares will vest monthly thereafter over three years.

4. The shares subject to the option will vest in equal monthly installments over the 48 months beginning on October 18, 2020.

5. The shares subject to the option will vest in equal monthly installments over the 48 months beginning on October 22, 2020.

6. The shares subject to the option will vest in equal monthly installments over the 48 months beginning on January 3, 2021.

7. The shares subject to the option will vest in equal monthly installments over the 48 months beginning on March 1, 2022.

8. 25% of the shares subject to the option will vest on February 1, 2023, and the remaining shares will vest monthly thereafter over three years.

9. The shares subject to the option will vest on May 2, 2023.

Remarks:

	/s/ Jeffrey C. Pepe	09/07/2022
	** 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 5 (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.