Lin Patrick 4

What Happened

• Lin Patrick, Chief Business & Strategy Officer of Processa Pharmaceuticals (PCSA), reported the exercise/conversion of a derivative that resulted in the acquisition of 193 shares and a same-day disposition of 193 shares, both at $0.00 per share, dated January 1, 2026. The filing footnote states these were a distribution of vested restricted shares (F1). No cash was paid and no sale proceeds are reported.

Key Details

• Transaction date: 2026-01-01 (reported on Form 4 filed 2026-02-04).
• Transaction codes: M = exercise or conversion of derivative (per Form 4 conventions).
• Shares involved: 193 acquired @ $0.00; 193 disposed @ $0.00.
• Footnote: F1 — distribution of vested restricted shares.
• Shares owned after the transaction: not specified in the filing.
• Timeliness: reported Feb 4, 2026 for a Jan 1 transaction — the filing appears to be later than the typical 2-business-day Form 4 deadline.

Context

• Code M indicates conversion/exercise of a derivative instrument; here the filing and footnote indicate the activity reflects distribution of vested restricted stock rather than a market purchase or sale. Such distributions are typically routine compensation/vesting events and do not necessarily signal a change in insider sentiment.