Processa (PCSA) CFO Russell Skibsted Receives RSU Award

What Happened

Russell Skibsted, Chief Financial Officer of Processa Pharmaceuticals (PCSA), was granted 11,883 restricted stock units (RSUs) on July 26, 2026. The filing reports the acquisition as an award/derivative (code A) at $0.00 per unit (total reported value $0). The RSUs vested on grant but are subject to distribution restrictions described below.

Key Details

• Transaction date: 2026-07-26; reported on Form 4 filed 2026-07-28 (timely filing).
• Security: Restricted Stock Units (RSUs), 11,883 units; acquisition price reported as $0.00.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes of note:
  • F1: Each RSU is a contingent right to one share; RSUs vested upon grant but will not be distributed until the earlier of termination, six months after grant, change of control, or death.
  • F2: (Related note) describes typical stock option vesting schedule (one-third after 1 year, then ratably over two years).
  • F3: Reported amounts reflect the 1-for-25 reverse stock split effective Dec 17, 2025.
• Transaction type: Award/Grant of derivative securities (not an open-market purchase or sale).

Context

RSUs are a form of equity compensation. Although these RSUs vested upon grant, the actual shares will be issued later only if and when distribution conditions are met (or upon a change of control or death). The filing shows no cash purchase or sale; it records a grant of contingent share units rather than an exercised option or immediate sale.