X0306 4 2016-06-08 0 0001484565 Capnia, Inc. CAPN 0001180469 MARIO ERNEST 1235 RADIO ROAD, SUITE 110 REDWOOD CITY CA 94065 1 0 1 0 Common Stock 2016-06-08 4 P 0 50000 1.24 A 1918637 D The price reported in Column 4 is a weighted average price equal to $1.241413. These shares were sold in multiple transactions at prices ranging from $1.20 to $1.25, inclusive. The reporting person undertakes to provide to Capnia, Inc., any security holder of Capnia, Inc., 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 this footnote (1) on this Form 4. /s/ David O'Toole, Attorney-in-Fact 2016-06-09