ARSENAULT KAITLYN 4
4 · Skye Bioscience, Inc. · Filed Aug 29, 2023
Insider Transaction Report
Form 4
ARSENAULT KAITLYN
Chief Financial Officer
Transactions
- Award
Common Stock
2023-08-25+13,382,118→ 14,382,118 total - Award
Stock Option (Right to Buy)
2023-08-25+3,345,530→ 3,345,530 totalExercise: $0.01Exp: 2033-08-25→ Common Stock (3,345,530 underlying)
Footnotes (3)
- [F1]Represents a restricted stock unit ("RSU") award that vests on the following performance milestones : 25% vests upon achieving a market cap of $125M, an additional 25% vests upon achieving a market cap of $250M, an additional 25% vests upon achieving a market cap of $400M, an additional 25% vest at an exit of $500M or greater; provided, however, that no RSUs shall vest until the compensation committee of the Issuer determines that shares can be sold into the market to cover withholding tax obligations associated with the vesting of the RSUs . Notwithstanding anything to the foregoing, all of the RSUS shall vest if an exit greater than $500M is achieved at an earlier date.
- [F2]Each RSU represents a contingent right to receive one share of the Issuer's common stock.
- [F3]The option grant shall be exercisable for a price of $0.014 per option share for ten years from August 25, 2023 and the options will vest in equal monthly installments over the four year period beginning August 24, 2023. Upon a change in control of the Issuer, 100% of the options will become fully vested.