Baluch Khoso 4

What Happened

• Baluch Khoso, a director of Processa Pharmaceuticals (PCSA), converted/exercised a derivative award on 2026-06-26 that resulted in the acquisition of 203 shares. The filing also shows a related line reporting 203 shares disposed at $0.00. The reporting footnote states this was a "distribution of time-based service award" (F1), indicating these shares arose from company compensation rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-26; Form 4 filed: 2026-06-30
• Transaction type/code: M = exercise or conversion of a derivative (distribution of time‑based service award)
• Shares acquired: 203 (price reported as N/A)
• Shares disposed: 203 at $0.00 (reported as derivative; $0 cash proceeds)
• Footnote: F1 — Distribution of time‑based service award
• Shares owned after transaction: not specified in the provided filing summary
• Timeliness: Form filed four days after the transaction; the filing does not flag a late filing status

Context

• Code M indicates conversion/exercise of a derivative (for example, vested RSUs or options). The $0.00 disposed entry and the footnote suggest this was an internal distribution of a time‑based award rather than a market sale; it does not necessarily signal buying or selling interest in the open market. Such compensation-related share issuances are routine for insiders and are primarily a payroll/compensation event.