DHILLON AVTAR S 4
4 · Arch Therapeutics, Inc. · Filed Jul 20, 2018
Insider Transaction Report
Form 4
DHILLON AVTAR S
Director10% Owner
Transactions
- Award
Common Stock
2018-07-19+220,000→ 8,517,373 total - Award
Stock Option (right to buy)
2018-07-19+220,000→ 220,000 totalExercise: $0.42Exp: 2028-07-18→ Common Stock (200,000 underlying)
Footnotes (3)
- [F1]The grants reported on this Statement of Changes in Beneficial Ownership on Form 4 were made in connection with that certain letter agreement dated July 19, 2018 by and between the reporting person and Arch Therapeutics, Inc. (the "Company") pursuant to which the reporting person was engaged as an advisor to the Company. The reporting person resigned from his position as a director of the Company effective as of 4:00 PM Eastern Time, July 19, 2018.
- [F2]Of the Shares subject to this grant, all are issued pursuant to the 2013 Stock Incentive Plan (the "Plan") and 100% shall fully vest on the second anniversary of the date of grant. In addition, in the event of a Change of Control (as such term is defined in the Plan) 100% of grant will immediately vest.
- [F3]Of the Shares subject to this Grant, 1/12th shall on each of the next twelve (12) monthly anniversaries of the vesting commencement date.