Sitar Edward J 4
4 · Timber Pharmaceuticals, Inc. · Filed Apr 19, 2022
Insider Transaction Report
Form 4
Sitar Edward J
Director
Transactions
- Award
Common Stock, par value $0.001 per share
2022-04-15+150,000→ 165,000 total - Award
Stock Option (right to buy)
2022-04-15+150,000→ 150,000 totalExercise: $0.31Exp: 2032-04-14→ Common Stock, par value $0.001 per share (150,000 underlying)
Footnotes (3)
- [F1]On April 15, 2022, the Reporting Person was granted 150,000 restricted stock units, which will be settled in shares of common stock, par value $0.001, of Timber Pharmaceuticals, Inc. (the "Issuer"). The restricted stock units vest in 12 equal monthly installments beginning on May 15, 2022, as long as the Reporting Person remains in continuous service with the Issuer through each vesting date.
- [F2]Includes 150,000 restricted stock units that are unvested.
- [F3]25% of the options vest on April 15, 2023, and the remaining shares will become exercisable in 24 equal monthly installments beginning on May 15, 2023, as long as the Reporting Person remains in continuous service with the Issuer through each vesting date.