Martha J. Carter Form 4 ALBIREO PHARMA / Martha J. Carter ownership change

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:	3235-0287
Estimated average burden
hours per response:	0.5

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

1. Name and Address of Reporting Person^*

Carter Martha J.

(Last) (First) (Middle)

C/O ALBIREO PHARMA, INC.

10 POST OFFICE SQUARE, SUITE 1000

(Street)

BOSTON MA 02109

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ALBIREO PHARMA, INC. [ ALBO ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Regulatory Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2020

4. 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 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/08/2020		M		10,000	A	$19.19	10,000	D
Common Stock	09/08/2020		S(1)		10,000	D	$45.55	0	D
Common Stock	09/09/2020		M		7,500	A	$19.19	7,500	D
Common Stock	09/09/2020		M		2,500	A	$24.04	10,000	D
Common Stock	09/09/2020		S(1)		7,500	D	$38.68(2)	2,500	D
Common Stock	09/09/2020		S(1)		2,500	D	$39.82	0	D
Common Stock	09/10/2020		M		9,312	A	$24.04	9,312	D
Common Stock	09/10/2020		M		688	A	$24.48	10,000	D
Common Stock	09/10/2020		S(1)		10,000	D	$42.41(3)	0	D

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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$19.19	09/08/2020		M			10,000	(4)	01/19/2027	Common Stock	10,000	$0.00	10,000	D
Stock Option (right to buy)	$19.19	09/09/2020		M			7,500	(4)	01/19/2027	Common Stock	7,500	$0.00	2,500	D
Stock Option (right to buy)	$24.04	09/09/2020		M			2,500	(5)	01/21/2029	Common Stock	2,500	$0.00	29,000	D
Stock Option (right to buy)	$24.04	09/10/2020		M			9,312	(5)	01/21/2029	Common Stock	9,312	$0.00	19,688	D
Stock Option (right to buy)	$24.48	09/10/2020		M			688	(6)	08/20/2027	Common Stock	688	$0.00	12,312	D

Explanation of Responses:

1. Shares sold pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 20, 2019.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.51 to $38.82, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, on request, full information regarding the number of shares sold at each separate price within the range set forth above.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $42.06 to $42.70, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, on request, full information regarding the number of shares sold at each separate price within the range set forth above.

4. This option vests and become exercisable in equal installments on the last day of 16 consecutive calendar quarters beginning with March 31, 2017 and ending on December 31, 2020.

5. This option vested as to 25% of the shares on January 22, 2020 with the remainder vesting in equal installments every three months thereafter, beginning on April 22, 2020 and ending on January 22, 2023.

6. This option vests and become exercisable in equal installments on the last day of 16 consecutive calendar quarters beginning with September 30, 2017 and ending on June 30, 2021.

Remarks:

	/s/ Jason Duncan, Attorney-in-fact	09/10/2020
	** 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 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).
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.