Pannu Geraldine 4

What Happened
Geraldine Pannu, a director of Processa Pharmaceuticals (PCSA), exercised/converted a derivative to acquire 203 shares on 2026-06-26 and a matching 203 shares were reported as disposed the same day for $0.00. The filing shows no cash proceeds and the acquisition line lists price as N/A. A footnote notes this was a distribution of a time‑based service award.

Key Details

• Transaction date: 2026-06-26 (reported on Form 4 filed 2026-06-30).
• Actions: Exercise/conversion of derivative (transaction code M) — 203 shares acquired; 203 shares disposed at $0.00.
• Reported value: Disposal proceeds $0.00; acquisition price listed as N/A.
• Footnote: F1 — "Distribution of time‑based service award."
• Filing timeliness: Filed 2026-06-30 for a 2026-06-26 transaction (filed within the Form 4 reporting window).
• Shares owned after transaction: Not specified in the provided summary.

Context
This was not a purchase for market exposure — the filing shows an exercise/conversion of a derivative with an immediate disposition and no cash proceeds. The footnote indicates the activity relates to a time‑based service award distribution, which typically reflects issuance/transfer of award shares rather than an open‑market trade.