X0306 4 2017-04-07 0 0001484565 Capnia, Inc. CAPN 0001180469 MARIO ERNEST 1235 RADIO ROAD, SUITE 110 REDWOOD CITY CA 94065 1 0 0 0 Common Stock 2017-01-23 4 A 0 16667 0.90 A 1795929 D Common Stock 2017-04-07 4 A 0 23809 0.63 A 1819738 D Effective January 1, 2017, annual board and committee retainers payable to directors will be made in equivalent shares of the Issuer'scommon stock, on a quarterly basis. The number of shares issuable in lieu of cash retainers was determined using the closing price per share of Issuer common stock on January 23, 2017, or $0.90. The number of shares issuable in lieu of cash retainers was determined using the closing price per share of Issuer common stock on April 7, 2017, or $0.63. /s/ David O'Toole, Attorney-in-Fact 2017-04-13