SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Design Therapeutics, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
25056L 103
(CUSIP Number)
December 31, 2021
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☐ Rule 13d-1(b)
☐ Rule 13d-1(c)
☒ Rule 13d-1(d)
| * | The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. |
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
13G
| CUSIP No. 25056L 103 |
Page 2 of 6 Pages |
|
1. |
Names of Reporting Persons
Light Irrevocable Trust #1 dated April 22, 2019 | |||||
| 2. |
Check the Appropriate Box if a Member of a Group (see instructions)
(a) ☐ (b) ☐
| |||||
| 3. |
SEC USE ONLY
| |||||
| 4. |
Citizenship or Place of Organization
United States | |||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
5. |
Sole Voting Power
0 | ||||
| 6. |
Shared Voting Power
3,834,355(1) | |||||
| 7. |
Sole Dispositive Power
0 | |||||
| 8. |
Shared Dispositive Power
3,834,355(1) | |||||
|
9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
3,834,355(1) | |||||
| 10. |
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)
☐ | |||||
| 11. |
Percent of Class Represented by Amount in Row 9
6.9% (2) | |||||
| 12. |
Type of Reporting Person (see instructions)
OO | |||||
| (1) | This schedule is filed by Light Irrevocable Trust #1 dated April 22, 2019 (“Light Trust”) and Jason Howerton. Mr. Howerton is the trustee of Light Trust, and in such capacity has the sole power to vote and dispose of such shares. Mr. Howerton disclaims beneficial ownership of the shares held by Light Trust. |
| (2) | The percentage is calculated based on 55,662,501 shares of Common Stock outstanding as of November 5, 2021, as reported in the Issuer’s Quarterly Report on Form 10-Q filed on November 5, 2021. |
13G
| CUSIP No. 25056L 103 |
Page 3 of 6 Pages |
|
1. |
Names of Reporting Persons
Jason Howerton | |||||
| 2. |
Check the Appropriate Box if a Member of a Group (see instructions)
(a) ☐ (b) ☐
| |||||
| 3. |
SEC USE ONLY
| |||||
| 4. |
Citizenship or Place of Organization
United States | |||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
5. |
Sole Voting Power
0 | ||||
| 6. |
Shared Voting Power
3,834,355(1) | |||||
| 7. |
Sole Dispositive Power
0 | |||||
| 8. |
Shared Dispositive Power
3,834,355(1) | |||||
|
9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
3,834,355(1) | |||||
| 10. |
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)
☐ | |||||
| 11. |
Percent of Class Represented by Amount in Row 9
6.9%(2) | |||||
| 12. |
Type of Reporting Person (see instructions)
IN | |||||
| (1) | This schedule is filed by Light Irrevocable Trust #1 dated April 22, 2019 (“Light Trust”) and Jason Howerton. Mr. Howerton is the trustee of Light Trust, and in such capacity has the sole power to vote and dispose of such shares. Mr. Howerton disclaims beneficial ownership of the shares held by Light Trust. |
| (2) | The percentage is calculated based on 55,662,501 shares of Common Stock outstanding as of November 5, 2021, as reported in the Issuer’s Quarterly Report on Form 10-Q filed on November 5, 2021. |
13G
| CUSIP No. 25056L 103 |
Page 4 of 6 Pages |
| Item 1(a). | Name of Issuer: |
Design Therapeutics, Inc., a Delaware corporation
| Item 1(b). | Address of Issuer’s Principal Executive Offices: |
6005 Hidden Valley Road, Suite 110
Carlsbad, CA 92011
| Item 2(a). | Name of Persons Filing: |
Light Irrevocable Trust #1 dated April 22, 2019
Jason Howerton (collectively, the “Reporting Persons”)
| Item 2(b). | Address of Principal Business Office of the Reporting Persons or, if none, Residence: |
2114 Via Tiempo
Cardiff, CA 92007
| Item 2(c). | Citizenship: |
Light Irrevocable Trust #1 dated April 22, 2019: California
Jason Howerton: USA
| Item 2(d). | Title of Class of Securities: |
Common Stock
| Item 2(e). | CUSIP Number: |
25056L 103
| Item 3. | Not applicable |
| Item 4. | Ownership |
| (a) | Amount Beneficially Owned: |
| Light Irrevocable Trust #1 dated April 22, 2019 |
3,834,355 | |
| Jason Howerton |
3,834,355 |
| (b) | Percent of Class: 6.9% |
| (c) | Number of shares as to which the person has: |
| (i) | Sole power to vote or to direct the vote: 0 |
| (ii) | Shared power to vote or to direct the vote: |
| Light Irrevocable Trust #1 dated April 22, 2019 |
3,834,355 | |
| Jason Howerton |
3,834,355 |
| (iii) | Sole power to dispose or to direct the disposition of: 0 |
| (iv) | Shared power to dispose or to direct the disposition of: |
| Light Irrevocable Trust #1 dated April 22, 2019 |
3,834,355 | |
| Jason Howerton |
3,834,355 |
13G
| CUSIP No. 25056L 103 |
Page 5 of 6 Pages |
| Item 5. | Ownership of Five Percent or Less of a Class |
Not applicable
| Item 6. | Ownership of More than Five Percent on Behalf of Another Person |
Not applicable
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. |
Not applicable
| Item 8. | Identification and Classification of Members of the Group |
Not applicable
| Item 9. | Notice of Dissolution of a Group |
Not applicable
| Item 10. | Certification |
Not applicable
13G
| CUSIP No. 25056L 103 |
Page 6 of 6 Pages |
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: February 8, 2022
| Light Irrevocable Trust #1 dated April 22, 2019 |
| /s/ Jason Howerton |
| Jason Howerton, Trustee |
| /s/ Jason Howerton |
| Jason Howerton |
The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative other than an executive officer or general partner of the filing person, evidence of the representative’s authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties for whom copies are to be sent.
Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)
13G
| CUSIP No. 25056L 103 |
EXHIBIT A
Joint Filing Agreement
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, each of the persons named below agrees to the joint filing of a Statement on Schedule 13G (including amendments thereto) with respect to the Common Stock of Design Therapeutics Inc., a Delaware corporation.
Dated: February 8, 2022
| Light Irrevocable Trust #1 dated April 22, 2019 |
| /s/ Jason Howerton |
| Jason Howerton, Trustee |
| /s/ Jason Howerton |
| Jason Howerton |