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

1. Name and Address of Reporting Person *

Osborne Mary Louise		 2. Issuer Name and Ticker or Trading Symbol

Ontrak, Inc. [ OTRK ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chief Commercial Officer
(Last)          (First)          (Middle)

2200 PASEO VERDE PARKWAY, SUITE 280		 3. Date of Earliest Transaction (MM/DD/YYYY)

5/19/2023
(Street)

HENDERSON, NV 89052		 4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
 6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)        (State)        (Zip)
Rule 10b5-1(c) Transaction Indication
☐ Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)		2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date7. 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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Option (right to buy) $0.41 5/19/2023  A   100000     (1)8/30/2031 Common Stock 100000  (2)100000 D  
Option (right to buy) $1.74 5/19/2023  D     100000   (1)8/30/2031 Common Stock 100000  (2)0 D  
Option (right to buy) $0.41 5/19/2023  A   27750     (3)4/12/2029 Common Stock 27750  (2)27750 D  
Option (right to buy) $1.73 5/19/2023  D     27750   (3)4/12/2029 Common Stock 27750  (2)0 D  
Explanation of Responses:
(1) 25,000 of these shares vested on August 30, 2022 and the remaining shares vest equally over the following 36 months, such that all shares shall be vested on August 30, 2025. There was no change to the vesting schedule in connection with the repricing transaction on May 19, 2023.
(2) The reporting person agreed to the repricing of options originally granted to her on August 30, 2021 and April 12, 2022.
(3) 6,938 of these shares vested on April 12, 2023 and the remaining shares vest equally each quarter thereafter over the following three years, such that all shares shall be vested on April 12, 2026. There was no change to the vesting schedule in connection with the repricing transaction on May 19, 2023.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Osborne Mary Louise
2200 PASEO VERDE PARKWAY, SUITE 280
HENDERSON, NV 89052

Chief Commercial Officer
Signatures
/s/ Mary Louise Osborne5/23/2023
**Signature of Reporting PersonDate
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 control number.
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