X0306 4 2016-11-21 1 0001348911 KalVista Pharmaceuticals, Inc. CBYL 0001417397 Basta Steven L C/O CARBYLAN THERAPEUTICS, INC. 39899 BALENTINE DRIVE, SUITE 200 NEWARK CA 95460 1 0 0 0 Common Stock 2016-11-21 4 M 0 1125 7.84 A 1125 D Common Stock 2016-11-21 4 F 0 1026 8.5932 D 99 D Common Stock 2016-11-21 4 U 0 99 8.5932 D 0 D Stock Option (Right to Buy) 7.84 2016-11-21 4 M 0 1125 0.00 A 2023-06-06 Common Stock 1125 0 D The transactions reported in this Form 4 were completed pursuant to the consummation of the actions contemplated in that certain Share Purchase Agreement, dated as of June 15, 2016, by and among Carbylan, KalVista Pharmaceuticals Ltd. ("KalVista"), the shareholders of KalVista, and T. Andrew Crockett as the Seller Representative (the "Transaction"), and reflect a 14 to 1 reverse stock split completed immediately prior to the closing of the Transaction. The option is fully vested and exercisable. /s/ Steven L. Basta 2016-11-22