Young David 4

What Happened
David Young, President of Research & Development and a director at Processa Pharmaceuticals (PCSA), had 49 shares issued to him on 2026-01-01 through the exercise/conversion of a derivative instrument (reported with code M). The transaction shows acquisition of 49 shares at $0.00 (no cash paid) and a matching reporting line showing the derivative interest disposed/converted for 49 shares. Footnote F1 states this was the distribution of vested restricted shares.

Key Details

• Transaction date: 2026-01-01 (reported on Form 4 filed 2026-02-04).
• Price: $0.00 per share; total reported value $0 (shares issued upon vesting).
• Shares acquired: 49 common shares (via conversion/distribution of vested restricted shares).
• Derivative entry: 49 shares reported as disposed to reflect conversion/termination of the derivative instrument.
• Shares owned after transaction: not specified in the provided excerpt.
• Footnote: F1 — distribution of vested restricted shares.
• Timeliness: Form 4 was filed 34 days after the transaction (late relative to the usual 2-business-day Form 4 deadline).

Context
This appears to be a routine vesting/distribution of restricted shares (an award converting into common stock), not an open-market purchase or sale. The derivative “exercise/conversion” and matching “disposed” line simply reflect the conversion/termination of the underlying award; no cash changed hands and no shares were sold in the market. For retail investors, vesting events are typically administrative (compensation being delivered) and do not necessarily signal a change in insider sentiment.