Shannon Shoemaker - Sep 21, 2023 Form 4 Insider Report for PSYCHEMEDICS CORP (PMD)

Role: Chief Revenue Officer
Signature: Patrick J. Kinney, Jr. as attorney-in-fact for Shannon Shoemaker
Stock symbol: PMD
Transactions as of: Sep 21, 2023
Transactions value $: $0
Form type: 4
Date filed: 9/25/2023, 06:29 PM
Previous filing: Sep 25, 2023

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	PMD	Stock Option (Right to Buy)	Award	$0	+40K		$0.00	40K	Sep 21, 2023	Common Stock, $.005 Par Value	40K	$3.66	Direct	F1
transaction	PMD	Stock Option (Right to Buy)	Award	$0	+80K		$0.00	80K	Sep 21, 2023	Common Stock, $.005 Par Value	80K	$3.66	Direct	F2

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

Explanation of Responses:

Id	Content
F1	The option becomes exercisable with respect to 50% of the shares on September 18, 2024 and with respect to the remaining 50% on September 18, 2025.
F2	The option becomes exercisable, if at all, in two 40,000 share increments. The first increment of 40,000 shares becomes exercisable at the time the weighted average daily price of Psychemedics common stock on the Nasdaq Stock Market during any consecutive 60 calendar day period ending on or before September 21, 2026 shall have exceeded $5.50. The second increment of 40,000 shares becomes exercisable at the time the weighted average daily price of Psychemedics common stock on the Nasdaq Stock Market during any consecutive 60 calendar day period ending on or before September 21, 2027 shall have exceeded $6.50.

Content

The option becomes exercisable with respect to 50% of the shares on September 18, 2024 and with respect to the remaining 50% on September 18, 2025.

The option becomes exercisable, if at all, in two 40,000 share increments. The first increment of 40,000 shares becomes exercisable at the time the weighted average daily price of Psychemedics common stock on the Nasdaq Stock Market during any consecutive 60 calendar day period ending on or before September 21, 2026 shall have exceeded $5.50. The second increment of 40,000 shares becomes exercisable at the time the weighted average daily price of Psychemedics common stock on the Nasdaq Stock Market during any consecutive 60 calendar day period ending on or before September 21, 2027 shall have exceeded $6.50.