Guy Wendy 4

What Happened Guy Wendy, Chief Administrative Officer of Processa Pharmaceuticals (PCSA), had 193 restricted/share-unit interests converted into 193 shares of common stock on 2026-01-01. The Form 4 shows an "acquired" entry for 193 shares at $0.00 and a matching "disposed" derivative entry at $0.00; a footnote explains this was the distribution of vested restricted shares. No cash purchase or open-market sale occurred.

Key Details

• Transaction date: 2026-01-01
• Transaction code(s): M (exercise/conversion of derivative); both acquired 193 shares @ $0.00 and disposed 193 (derivative) @ $0.00
• Footnote: F1 — distribution of vested restricted shares (conversion of RSUs/restricted awards)
• Shares owned after transaction: not specified in the provided filing
• Form filed: 2026-02-04 (this filing was more than two business days after the transaction and is therefore late)

Context This was a conversion/distribution of vested restricted shares (not a market purchase or sale). Such conversions simply move previously granted restricted units into common stock for the insider and do not by themselves indicate a buy or sell signal. Late filing delays transparency for investors and can carry regulatory consequences.