Dhillon Punit's Form 4/A amendment
AmendedSkye Bioscience, Inc. (SKYE) · filed Aug 31, 2023
- Accession no.
- 0001516551-23-000069
- Filed
- Aug 31, 2023, 11:26 AM ET
- Trade date
- Aug 23-29, 2023
- Filing delay
- 8 days
- Rule 10b5-1 plan
- Not checked
- Original filed
- Aug 29, 2023
This filing lists 4 non-derivative transactions and 1 derivative transaction. Open-market purchases total $16.5K. It was filed 8 days after the trade.
This amendment replaces 0001516551-23-000062 (filed Aug 29, 2023).
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Dhillon PunitCIK 0001425052 | Director, Officer (Chief Executive Officer) |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Aug 25, 2023 | Common Stock | AGrant or awardAcquired | +20,277,414 | –F2 | – | 24,683,957 | Direct | |
| Aug 23, 2023 | Common Stock | LLess common codeAcquired | +9,000 | $0.0118 | +$106.2 | 24,692,957 | Direct | |
| Aug 28, 2023 | Common Stock | LLess common codeAcquired | +110,000 | $0.0171 | +$1,881 | 24,802,957 | Direct | |
| Aug 29, 2023 | Common Stock | PPurchaseAcquired | +881,000 | $0.0187 | +$16,474.7 | 25,683,957 | Direct |
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Aug 25, 2023 | Common Stock | AGrant or awardAcquired | +2,253,046 | $0.00 | $0 | 2,253,046 | Direct |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- 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.
Referenced by the price of 1 transaction in Table I.
- F3
The shares are held by a trust for which the Reporting Person is a trustee and has voting and dispositive power over the shares.
- F4
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.