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

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
SHV Management Services, LLC
  2. Issuer Name and Ticker or Trading Symbol
Molecular Templates, Inc. [MTEM]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O SANTE VENTURES, 201 WEST 5TH STREET, SUITE 1500
3. Date of Earliest Transaction (Month/Day/Year)
04/30/2020
(Street)

AUSTIN, TX 78701
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
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 04/30/2020   J(1)   1,000,000 D $ 0 6,897,298 (2) I Held by Sante Health Ventures I, L.P. (3)
Common Stock               864,665 I Held by Sante Health Ventures I Annex Fund, L.P. (3)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SHV Management Services, LLC
C/O SANTE VENTURES
201 WEST 5TH STREET, SUITE 1500
AUSTIN, TX 78701
    X    
Cunningham Joe H
C/O SANTE VENTURES
201 WEST 5TH STREET, SUITE 1500
AUSTIN, TX 78701
    X    
FRENCH DOUGLAS D
C/O SANTE VENTURES
201 WEST 5TH STREET, SUITE 1500
AUSTIN, TX 78701
    X    
SHV Management Services, LP
C/O SANTE VENTURES
201 WEST 5TH STREET, SUITE 1500
AUSTIN, TX 78701
    X    
Sante Health Ventures I Annex Fund, LP
C/O SANTE VENTURES
201 WEST 5TH STREET, SUITE 1500
AUSTIN, TX 78701
    X    
SHV Annex Services, LP
C/O SANTE VENTURES
201 WEST 5TH STREET, SUITE 1500
AUSTIN, TX 78701
    X    
SANTE HEALTH VENTURES I LP
C/O SANTE VENTURES
201 WEST 5TH STREET, SUITE 1500
AUSTIN, TX 78701
    X    

Signatures

 SHV MANAGEMENT SERVICES, LLC, By: /s/ Kevin Lalande, Its Managing Member   05/04/2020
**Signature of Reporting Person Date

 /s/ Joe Cunningham, MD   05/04/2020
**Signature of Reporting Person Date

 /s/ Douglas D. French   05/04/2020
**Signature of Reporting Person Date

 SHV MANAGEMENT SERVICES, L.P., By: SHV Management Services, LLC, Its general partner, By: /s/ Kevin Lalande, Its Managing Member   05/04/2020
**Signature of Reporting Person Date

 SANTE HEALTH VENTURES I ANNEX FUND, L.P., By: SHV Annex Services, LP, Its general partner, By: SHV Management Services, LLC, Its general partner, By: /s/ Kevin Lalande, Its Managing Member   05/04/2020
**Signature of Reporting Person Date

 SHV ANNEX SERVICES, L.P., By: SHV Management Services, LLC, Its general partner, By: /s/ Kevin Lalande, Its Managing Member   05/04/2020
**Signature of Reporting Person Date

 SANTE HEALTH VENTURES I, L.P., By: SHV Management Services, L.P., Its general partner, By: SHV Management Services, LLC, Its general partner, By: /s/ Kevin Lalande, Its Managing Member   05/04/2020
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Sante Health Ventures I, LP distributed these shares to its partners on a pro rata basis, for no consideration.
(2) SHV Management Services, LP is the general partner of Sante Health Ventures I, L.P., and owns a 5% interest therein. SHV Management Services, LP therefore received 50,000 of the shares distributed by Sante Health Ventures I, L.P and now owns those shares directly. The SHV Directors and SHV Management own those shares indirectly.
(3) The securities held by Sante Health Ventures I, L.P. and Sante Health Ventures I Annex Fund, L.P. may be deemed to be beneficially owned by Joe Cunningham, M.D. and Douglas D. French, who are managing directors (the "SHV Directors") of SHV Management Services, LLC ("SHV Management"). SHV Management is the general partner of SHV Management Services, LP, which is the general partner of Sante Health Ventures I, L.P., and SHV Annex Services, LP, which is the general partner of Sante Health Ventures I Annex Fund, L.P. Each of the SHV Directors, SHV Management, SHV Management Services, LP and SHV Annex Services, LP disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein.

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