Daniella Mehalik - 22 Jan 2024 Form 4 Insider Report for PSYCHEMEDICS CORP (PMDI)

Role: Vice President - Finance
Signature: Patrick J. Kinney, Jr. as attorney-in-fact for Daniella Mehalik
Issuer symbol: PMDI
Transactions as of: 22 Jan 2024
Net transactions value: $0
Form type: 4
Filing time: 24 Jan 2024, 17:21:10 UTC
Previous filing: 19 Dec 2023
SEC: View on sec.gov

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	+35,000		$0.000000	35,000	22 Jan 2024	Common Stock, $.005 Par Value	35,000	$3.40	Direct	F1
transaction	PMD	Stock Option (Right to Buy)	Award	$0	+70,000		$0.000000	70,000	22 Jan 2024	Common Stock, $.005 Par Value	70,000	$3.40	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 January 22, 2025 and with respect to the remaining 50% on January 22, 2026.
F2	The option becomes exercisable, if at all, in two 35,000 share increments. The first increment of 35,000 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 January 22, 2027 shall have exceeded $5.50. The second increment of 35,000 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 January 22, 2028 shall have exceeded $6.50.

Content

The option becomes exercisable with respect to 50% of the shares on January 22, 2025 and with respect to the remaining 50% on January 22, 2026.

The option becomes exercisable, if at all, in two 35,000 share increments. The first increment of 35,000 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 January 22, 2027 shall have exceeded $5.50. The second increment of 35,000 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 January 22, 2028 shall have exceeded $6.50.