Bigora Sian 4

What Happened

• Bigora Sian, Chief Development Officer of Processa Pharmaceuticals (PCSA), had 249 shares issued from a derivative conversion on 2026-01-01. The filing records an acquisition of 249 shares at $0.00 and a matching derivative disposition of 249 shares at $0.00. Footnote F1 states these were a distribution of vested restricted shares.

Key Details

• Transaction date: 2026-01-01; Form 4 filed: 2026-02-04.
• Reported entries: 249 shares acquired, $0.00 per share; 249 shares disposed, $0.00 per share (both coded as derivative exercise/conversion, code M).
• Footnote: F1 — "Distribution of vested restricted shares."
• Shares owned after the transaction: not specified in the provided filing data.
• Timing: The Form 4 was filed more than a month after the transaction date (filed Feb 4 for a Jan 1 transaction).

Context

• Code M indicates exercise or conversion of a derivative instrument; here the filing and footnote indicate restricted stock units or similar awards vested and were distributed as common shares. The $0.00 prices reflect that this was a conversion/distribution event, not a cash purchase or sale. These distributions are typically administrative (vesting) events rather than market-timing trades.