Edgar Filing: Flexion Therapeutics Inc

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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3235-0287

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Versant Venture Capital III, L.P.

2. Issuer Name and Ticker or Trading Symbol
Flexion Therapeutics Inc [FLXN]

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

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

3000 SAND HILL ROAD, BLDG 4,, SUITE 210

3. Date of Earliest Transaction (Month/Day/Year)
02/18/2014

(Street)

MENLO PARK, CA 94025

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/18/2014		C		2,036,697 ⁽¹⁾	A	⁽²⁾	2,110,064	D ⁽¹⁾
Common Stock	02/18/2014		C		12,029 ⁽³⁾	A	⁽²⁾	2,122,526	I ⁽³⁾	By Versant Side Fund III, L.P. ⁽³⁾
Common Stock	02/18/2014		C		356,703 ⁽⁴⁾	A	⁽²⁾	2,511,209	I ⁽⁴⁾	By Versant Development Fund III, LLC ⁽⁴⁾
Common Stock	02/18/2014		C		385,629 ⁽¹⁾	A	⁽⁵⁾	2,896,838	D ⁽¹⁾
Common Stock	02/18/2014		C		2,277 ⁽³⁾	A	⁽⁵⁾	2,899,115	I ⁽³⁾	By Versant Side Fund III, L.P. ⁽³⁾
Common Stock	02/18/2014		P		305,886 ⁽⁶⁾	A	$ 13	3,205,001	D ⁽¹⁾
Common Stock	02/18/2014		P		1,806 ⁽³⁾ ⁽⁶⁾	A	$ 13	3,206,807	I ⁽³⁾	By Versant Side Fund III, L.P. ⁽³⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	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 control number.		SEC 1474 (9-02)

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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Series A Preferred Stock

⁽²⁾

02/18/2014

16,558,351 ⁽¹⁾

⁽²⁾

Common Stock

2,036,697

$ 0 ⁽²⁾

D ⁽¹⁾

Series A Preferred Stock

⁽²⁾

02/18/2014

97,797 ⁽³⁾

⁽²⁾

Common Stock

12,029

$ 0 ⁽²⁾

I ⁽³⁾

By Versant Side Fund III, L.P. ⁽³⁾

Series A Preferred Stock

⁽²⁾

02/18/2014

2,900,000 ⁽⁴⁾

⁽²⁾

Common Stock

356,703

$ 0 ⁽²⁾

I ⁽⁴⁾

By Versant Development Fund III, LLC ⁽⁴⁾

Series B Preferred Stock

⁽⁵⁾

02/18/2014

3,135,165 ⁽¹⁾

⁽⁵⁾

Common Stock

385,629

$ 0 ⁽⁵⁾

D ⁽¹⁾

Series B Preferred Stock

⁽⁵⁾

02/18/2014

18,512 ⁽³⁾

⁽⁵⁾

Common Stock

2,277

$ 0 ⁽⁵⁾

I ⁽³⁾

By Versant Side Fund III, L.P. ⁽³⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Versant Venture Capital III, L.P. 3000 SAND HILL ROAD, BLDG 4, SUITE 210 MENLO PARK, CA 94025		X
Versant Side Fund III, L.P. 3000 SAND HILL ROAD, BLDG 4 SUITE 210 MENLO PARK, CA 94025		X
Versant Development Fund III, L.P. 3000 SAND HILL ROAD, BLDG 4, SUITE 210 MENLO PARK, CA 94025		X

Signatures

/s/ Robin Praeger, CFO		02/20/2014
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	The shares are held by Versant Venture Capital III, L.P. Brian G. Atwood, Ross A. Jaffe, M.D., Samuel D. Colella, Donald B. Milder, Rebecca B. Robertson, Bradley J. Bolzon, Ph.D., William J. Link, Ph.D., Charles M. Warden, and Barbara N. Lubash, as managing directors of Versant Ventures III, LLC, share voting and investment authority over the shares held by Versant Venture Capital III, L.P. and Versant Side Fund III, L.P. Versant Venture Capital III, L.P. is the majority member of Versant Development Fund III, LLC. Each of Brian G. Atwood, Ross A. Jaffe, M.D., Samuel D. Colella, Donald B. Milder, Rebecca B. Robertson, Bradley J. Bolzon, Ph.D., William J. Link, Ph.D., Charles M. Warden, and Barbara N. Lubash disclaim beneficial ownership of these shares except to the extent of his or her pecuniary interest therein.
(2)	Every 8.13 shares of Series A Preferred Stock automatically converted into 1 share of Common Stock without payment of further consideration upon the closing of the Issuer's initial public offering. The shares have no expiration date.
(3)	The shares are held by Versant Side Fund III, L.P. Brian G. Atwood, Ross A. Jaffe, M.D., Samuel D. Colella, Donald B. Milder, Rebecca B. Robertson, Bradley J. Bolzon, Ph.D., William J. Link, Ph.D., Charles M. Warden, and Barbara N. Lubash, as managing directors of Versant Ventures III, LLC, share voting and investment authority over the shares held by Versant Venture Capital III, L.P. and Versant Side Fund III, L.P. Versant Venture Capital III, L.P. is the majority member of Versant Development Fund III, LLC. Each of Brian G. Atwood, Ross A. Jaffe, M.D., Samuel D. Colella, Donald B. Milder, Rebecca B. Robertson, Bradley J. Bolzon, Ph.D., William J. Link, Ph.D., Charles M. Warden, and Barbara N. Lubash disclaim beneficial ownership of these shares except to the extent of his or her pecuniary interest therein.
(4)	The shares are held by Versant Development Fund III, LLC. Brian G. Atwood, Ross A. Jaffe, M.D., Samuel D. Colella, Donald B. Milder, Rebecca B. Robertson, Bradley J. Bolzon, Ph.D., William J. Link, Ph.D., Charles M. Warden, and Barbara N. Lubash, as managing directors of Versant Ventures III, LLC, share voting and investment authority over the shares held by Versant Venture Capital III, L.P. and Versant Side Fund III, L.P. Versant Venture Capital III, L.P. is the majority member of Versant Development Fund III, LLC. Each of Brian G. Atwood, Ross A. Jaffe, M.D., Samuel D. Colella, Donald B. Milder, Rebecca B. Robertson, Bradley J. Bolzon, Ph.D., William J. Link, Ph.D., Charles M. Warden, and Barbara N. Lubash disclaim beneficial ownership of these shares except to the extent of his or her pecuniary interest therein.
(5)	Every 8.13 shares of Series B Preferred Stock automatically converted into 1 share of Common Stock without payment of further consideration upon the closing of the Issuer's initial public offering. The shares have no expiration date.
(6)	The shares were purchased at the Issuer's initial public offering.

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