David A. Santos - 28 Feb 2024 Form 4 Insider Report for RIGEL PHARMACEUTICALS INC (RIGL)

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	RIGL	Employee Stock Option (right to buy)	Award	$0	+80,000		$0.000000	80,000	28 Feb 2024	Common Stock	80,000	$1.87	Direct	F1, F3
transaction	RIGL	Employee Stock Option (right to buy)	Award	$0	+78,500		$0.000000	78,500	28 Feb 2024	Common Stock	78,500	$1.27	Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	The Reporting Person was granted an option with a performance-based condition with respect to 80,000 shares of the issuer's common stock on January 26, 2023. Thus, the exercise price of this option is $1.87 (the closing price of the issuer's common stock on Nasdaq the date of grant). In light of the performance-based vesting condition of this grant, the grant was not reportable under Section 16 until the performance metric was satisfied. On February 28, 2024, it was determined that the performance metric had been met.
F2	The Reporting Person was granted an option with a performance-based condition with respect to 78,500 shares of the issuer's common stock on January 23, 2024. Thus, the exercise price of this option is $1.27 (the closing price of the issuer's common stock on Nasdaq the date of grant). In light of the performance-based vesting condition of this grant, the grant was not reportable under Section 16 until the performance metric was satisfied. On February 28, 2024, it was determined that the performance metric had been met.
F3	The option was fully vested on February 28, 2024, the date the determination was made that the performance metric had been met.