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Filing Details

Accession Number:: 0001104659-12-053800
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-08-02 17:42:46
Reporting Period:: 2012-07-31

Filing Date:: 2012-08-02
Accepted Time:: 2012-08-02 17:42:46
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1386858	Hyperion Therapeutics Inc	HPTX	Pharmaceutical Preparations (2834)	611512713

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1343244	P L Vii-B Partners Capital Highland	C/O Highland Capital Partners One Broadway, 16Th Floor Cambridge MA 02142	No	No	Yes	No
1343673	Highland Capital Partners Vii-C Lp	C/O Highland Capital Partners One Broadway, 16Th Floor Cambridge MA 02142	No	No	Yes	No
1343678	Highland Capital Partners Vii Lp	C/O Highland Capital Partners One Broadway, 16Th Floor Cambridge MA 02142	No	No	Yes	No
1357840	Partnership Limited Vii Fund Entrepreneurs Highland	C/O Highland Capital Partners One Broadway, 16Th Floor Cambridge MA 02142	No	No	Yes	No
1554026	Highland Management Partners Vii, Llc	C/O Highland Capital Partners One Broadway, 16Th Floor Cambridge MA 02142	No	No	Yes	No
1554027	Partnership Limited Vii Partners Management Highland	C/O Highland Capital Partners One Broadway, 16Th Floor Cambridge MA 02142	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2012-07-31	375,755	$0.00	378,174	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	425,958	$0.00	804,132	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	230,478	$0.00	1,034,610	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	95,812	$0.00	1,130,422	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	94,231	$0.00	1,224,653	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	66,522	$0.00	1,291,175	No	4	X	Indirect	See Footnote
Common Stock	Disposition	2012-07-31	27,141	$0.00	1,264,034	No	4	J	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	1,085	$0.00	1,265,119	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	1,085	$0.00	1,266,204	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	61,480	$10.00	1,327,684	No	4	P	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	91,052	$0.00	91,638	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	103,218	$0.00	194,856	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	55,849	$0.00	250,705	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	23,217	$0.00	273,922	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	22,834	$0.00	296,756	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	16,119	$0.00	312,875	No	4	X	Indirect	See Footnote
Common Stock	Disposition	2012-07-31	6,577	$0.00	306,298	No	4	J	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	262	$0.00	306,560	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	262	$0.00	306,822	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	14,898	$10.00	321,720	No	4	P	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	132,601	$0.00	133,453	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	150,318	$0.00	283,771	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	81,334	$0.00	365,105	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	33,811	$0.00	398,916	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	33,253	$0.00	432,169	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	23,475	$0.00	455,644	No	4	X	Indirect	See Footnote
Common Stock	Disposition	2012-07-31	9,578	$0.00	446,066	No	4	J	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	382	$0.00	446,448	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	382	$0.00	446,830	No	4	C	Indirect	See Footnote
Common Stock	Acquisiton	2012-07-31	21,696	$10.00	468,526	No	4	P	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	X	Indirect	See Footnote
No	4	J	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	P	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	X	Indirect	See Footnote
No	4	J	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	P	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	X	Indirect	See Footnote
No	4	J	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	C	Indirect	See Footnote
No	4	P	Indirect	See Footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series C-1 Preferred Stock	Disposition	2012-07-31	375,755	$0.00	375,755	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	425,958	$0.00	425,958	$0.00
Common Stock	Convertible Promissory Note	Disposition	2012-07-31	0	$0.00	230,478	$0.00
Common Stock	Convertible Promissory Note	Disposition	2012-07-31	0	$0.00	95,812	$0.00
Common Stock	Convertible Promissory Note	Disposition	2012-07-31	0	$0.00	94,231	$0.00
Common Stock	Warrant to Purchase Common Stock	Disposition	2012-07-31	66,522	$0.00	66,522	$0.00
Series C-2 Preferred Stock	Warrant to Purchase Preferred Stock	Disposition	2012-07-31	28,557	$0.00	28,557	$0.00
Series C-2 Preferred Stock	Warrant to Purchase Preferred Stock	Disposition	2012-07-31	28,557	$0.00	28,557	$0.00
Common Stock	Series C-2 Preferred Stock	Acquisiton	2012-07-31	28,557	$0.00	28,557	$0.00
Common Stock	Series C-2 Preferred Stock	Acquisiton	2012-07-31	28,557	$0.00	28,557	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	27,472	$10.00	27,472	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	27,472	$10.00	27,472	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	1,085	$0.00	1,085	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	1,085	$0.00	1,085	$0.00
Common Stock	Series C-1 Preferred Stock	Disposition	2012-07-31	91,052	$0.00	91,052	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	103,218	$0.00	103,218	$0.00
Common Stock	Convertible Promissory Note	Disposition	2012-07-31	0	$0.00	55,849	$0.00
Common Stock	Convertible Promissory Note	Disposition	2012-07-31	0	$0.00	23,217	$0.00
Common Stock	Convertible Promissory Note	Disposition	2012-07-31	0	$0.00	22,834	$0.00
Common Stock	Warrant to Purchase Common Stock	Disposition	2012-07-31	16,119	$0.00	16,119	$0.00
Series C-2 Preferred Stock	Warrant to Purchase Preferred Stock	Disposition	2012-07-31	6,920	$0.00	6,920	$0.00
Series C-2 Preferred Stock	Warrant to Purchase Preferred Stock	Disposition	2012-07-31	6,920	$0.00	6,920	$0.00
Common Stock	Series C-2 Preferred Stock	Acquisiton	2012-07-31	6,920	$0.00	6,920	$0.00
Common Stock	Series C-2 Preferred Stock	Acquisiton	2012-07-31	6,920	$0.00	6,920	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	6,658	$10.00	6,658	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	6,658	$10.00	6,658	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	262	$0.00	262	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	262	$0.00	262	$0.00
Common Stock	Series C-1 Preferred Stock	Disposition	2012-07-31	132,601	$0.00	132,601	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	150,318	$0.00	150,318	$0.00

Remaning Holdings	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	No	4	C	Indirect
0	No	4	C	Indirect
0	No	4	C	Indirect
0	No	4	C	Indirect
0	No	4	C	Indirect
0	No	4	X	Indirect
0	No	4	X	Indirect
0	No	4	X	Indirect
28,557	No	4	X	Indirect
28,557	No	4	X	Indirect
1,085	No	4	J	Indirect
1,085	No	4	J	Indirect
0	No	4	C	Indirect
0	No	4	C	Indirect
0	No	4	C	Indirect
0	No	4	C	Indirect
0	No	4	C	Indirect
0	No	4	C	Indirect
0	No	4	C	Indirect
0	No	4	X	Indirect
0	No	4	X	Indirect
0	No	4	X	Indirect
6,920	No	4	X	Indirect
6,920	No	4	X	Indirect
262	No	4	J	Indirect
262	No	4	J	Indirect
0	No	4	C	Indirect
0	No	4	C	Indirect
0	No	4	C	Indirect
0	No	4	C	Indirect

Footnotes

The securities are held by Highland Capital Partners VII Limited Partnership ("HCP VII"). Highland Management Partners VII, LLC is the general partner of Highland Management Partnership VII Limited Partnership, which is the general partner of HCP VII. Each of Highland Management Partners VII Limited Partnership and Highland Management Partners VII, LLC disclaims beneficial ownership of all shares held by HCP VII except to the extent of each such entity's pecuniary interest therein.
The securities are held by Highland Capital Partners VII-B Limited Partnership ("HCP VII-B"). Highland Management Partners VII, LLC is the general partner of Highland Management Partnership VII Limited Partnership, which is the general partner of HCP VII-B. Each of Highland Management Partners VII Limited Partnership and Highland Management Partners VII, LLC disclaims beneficial ownership of all shares held by HCP VII-B except to the extent of each such entity's pecuniary interest therein.
The securities are held by Highland Capital Partners VII-C Limited Partnership ("HCP VII-C"). Highland Management Partners VII, LLC is the general partner of Highland Management Partnership VII Limited Partnership, which is the general partner of HCP VII-C. Each of Highland Management Partners VII Limited Partnership and Highland Management Partners VII, LLC disclaims beneficial ownership of all shares held by HCP VII-C except to the extent of each such entity's pecuniary interest therein.
Immediately prior to the closing of the Issuer's initial public offering of its common stock, each share of convertible preferred stock automatically converted into one share of common stock. The convertible preferred stock had no expiration date.
Notes and accrued interest in the aggregate of $2,304,786 converted automatically immediately prior to the closing of the Issuer's initial public offering into shares of common stock at a conversion price of $10.00 per share, which is the initial public offering price per share.
Notes and accrued interest in the aggregate of $958,129 converted automatically immediately prior to the closing of the Issuer's initial public offering into shares of common stock at a conversion price of $10.00 per share, which is the initial public offering price per share.
Notes and accrued interest in the aggregate of $942,319 converted automatically immediately prior to the closing of the Issuer's initial public offering into shares of common stock at a conversion price of $10.00 per share, which is the initial public offering price per share.
Notes and accrued interest in the aggregate of $558,494 converted automatically immediately prior to the closing of the Issuer's initial public offering into shares of common stock at a conversion price of $10.00 per share, which is the initial public offering price per share.
Notes and accrued interest in the aggregate of $232,173 converted automatically immediately prior to the closing of the Issuer's initial public offering into shares of common stock at a conversion price of $10.00 per share, which is the initial public offering price per share.
Notes and accrued interest in the aggregate of $228,342 converted automatically immediately prior to the closing of the Issuer's initial public offering into shares of common stock at a conversion price of $10.00 per share, which is the initial public offering price per share.
Notes and accrued interest in the aggregate of $813,344 converted automatically immediately prior to the closing of the Issuer's initial public offering into shares of common stock at a conversion price of $10.00 per share, which is the initial public offering price per share.
Notes and accrued interest in the aggregate of $338,118 converted automatically immediately prior to the closing of the Issuer's initial public offering into shares of common stock at a conversion price of $10.00 per share, which is the initial public offering price per share.
Notes and accrued interest in the aggregate of $332,538 converted automatically immediately prior to the closing of the Issuer's initial public offering into shares of common stock at a conversion price of $10.00 per share, which is the initial public offering price per share.
Immediately prior to the closing, the warrants automatically net exercised by their terms, which allowed the holder to pay the exercise price of the warrants by forfeiting a portion of the exercised warrant shares with a value equal to the aggregate exercise price.
Immediately prior to the closing, the warrants automatically net exercised by their terms into Series C-2 preferred stock, which allowed the holder to pay the exercise price of the warrants by forfeiting a portion of the exercised warrant shares with a value equal to the aggregate exercise price. The convertible stock had no expiration date.
These shares reflect the net exercise of the common stock warrant pursuant to its terms into 39,381 shares of the Issuer's common stock.
These shares reflect the net exercise of the preferred stock warrant pursuant to its terms into 1,085 shares of the Issuer's Series C-2 preferred stock.
These shares reflect the net exercise of the common stock warrant pursuant to its terms into 9,542 shares of the Issuer's common stock.
These shares reflect the net exercise of the preferred stock warrant pursuant to its terms into 262 shares of the Issuer's Series C-2 preferred stock.
These shares reflect the net exercise of the common stock warrant pursuant to its terms into 13,897 shares of the Issuer's common stock.