Processa (PCSA) Director Justin Yorke Receives 33,500 RSUs

What Happened

• Justin W. Yorke, a director of Processa Pharmaceuticals, was granted 33,500 restricted stock units (RSUs) on July 26, 2026. The award was granted at $0.00 per share (derivative award), so no cash was paid. The RSUs vested on grant but are not immediately distributable.

Key Details

• Transaction date: 2026-07-26; Form filed: 2026-07-28 (Accession 0000897069-26-001560).
• Transaction type: A (Award/Grant) — 33,500 RSUs at $0.00; reported value $0 (derivative).
• Shares owned after transaction: Not reported in the provided filing excerpt.
• Footnotes of note:
  • F1: Each RSU converts to one share when distributed. Although these RSUs vested on grant, distribution is delayed until the earlier of termination, the six‑month anniversary of the grant, a change in control, or death.
  • F2 (included in filing): describes a separate stock option vesting schedule (one‑third after one year, remainder over two years) — not the RSU terms.
  • F3: The reported amounts reflect the 1-for-25 reverse stock split completed on December 17, 2025.
• Timeliness: filing date (7/28/2026) covers the 7/26/2026 grant; no late-filing flag was indicated in the provided information.

Context

• This was an award/compensation grant to a director (not an open‑market purchase or sale). RSU grants are common executive/director compensation and, because distribution is delayed, these units are still subject to company-imposed restrictions until the distribution conditions are met.