SEC FORM 4 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
 
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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*
KLINGENSTEIN PAUL H

(Last) (First) (Middle)
ONE EMBARCADERO CENTER
SUITE 4000

(Street)
SAN FRANCISCO CA 94111

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
EnteroMedics Inc [ ETRM ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
12/14/2010
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 12/14/2010 C 16,525 A $0(1) 26,207 D(2)
Common Stock 12/14/2010 C 406,504 A $0(1) 693,249 I By Aberdare II Annex Fund, L.P.(3)(4)
Common Stock 238,565 I By Aberdare Ventures II, L.P.(5)
Common Stock 4,950 I By Aberdare Ventures II Bermuda, L.P.(6)
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
Series A Non-Voting Convertible Preferred Stock (1) 12/14/2010 C 406,504 (1) (1) Common Stock 406,504 $0 0 I See footnote(7)
Series A Non-Voting Convertible Preferred Stock (1) 12/14/2010 C 16,525 (1) (1) Common Stock 16,525 $0 0 D(7)
Explanation of Responses:
1. The Series A Non-Voting Convertible Preferred Stock converted into the Issuer's Corporation common stock on a 1-for-1 basis and had no expiration date.
2. The securities are owned by Paul H. Klingenstein ("Klingenstein").
3. The securities are owned by Aberdare II Annex Fund, L.P. ("Aberdare Annex II"). Aberdare GP II, L.L.C. ("Aberdare GP II") serves as the sole General Partner of Aberdare Annex II, Aberdare Ventures II, L.P. ("Aberdare II") and Aberdare Ventures II Bermuda, L.P. ("Aberdare II Bermuda"), and has sole voting and investment control over the securities owned by Aberdare Annex II, Aberdare II and Aberdare II Bermuda, and may be deemed to own beneficially the securities held by Aberdare Annex II, Aberdare II and Aberdare II Bermuda.
4. Aberdare GP II however owns no securities of the Issuer directly. Klingenstein is a manager of Aberdare GP II and has voting and dispositive power over the securities held by Aberdare Annex II, Aberdare II and Aberdare II Bermuda. Klingenstein disclaims beneficial ownership of the securities held by Aberdare Annex II, except to the extent of his proportionate pecuniary interest therein.
5. The securities are owned by Aberdare II.
6. The securities are owned by Aberdare II Bermuda.
7. No securities owned.
/s/ Paul H. Klingenstein 12/16/2010
** 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.
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