Smith Karen L. 4

What Happened

• Karen L. Smith, a director of Skye Bioscience, was granted a derivative award covering 35,000 shares on 2026-02-06. The report lists the acquisition price as $0.00 (total reported value $0), and the grant is reported as a stock option/award (transaction code A). This is an award/grant (not a sale) and does not represent an immediate open-market purchase or cash proceeds.

Key Details

• Transaction date: 2026-02-06; Form 4 filed: 2026-02-09 (timely filing).
• Reported consideration: 35,000 shares acquired at $0.00 (derivative award).
• Vesting: The stock option vests in equal monthly installments over the one-year period beginning January 19, 2026 (Footnote F1).
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Transaction type code: A = Grant/Award (derivative); not a sale (S) or purchase (P).

Context

• This is a grant of a derivative award (stock option) that vests over time; the award does not mean immediate ownership of free-trading shares until vesting (and possible exercise) occurs. Such grants are common for compensation and retention; they are informational rather than a direct buy/sell signal.