Alan Mendelsohn - Jul 1, 2021 Form 4 Insider Report for Timber Pharmaceuticals, Inc. (TMBR)

Role
Chief Medical Officer
Signature
/s/ Joseph Lucchese, Power of Attorney
Stock symbol
TMBR
Transactions as of
Jul 1, 2021
Transactions value $
$0
Form type
4
Date filed
7/6/2021, 04:06 PM
Previous filing
May 13, 2021
Next filing
Nov 24, 2021

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 TMBR Stock Option (right to buy) Award $0 +348K $0.00 348K Jul 1, 2021 Common Stock, par value $0.001 per share 348K $1.18 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The option grant was approved by the compensation committee of the board of directors of Timber Pharmaceuticals, Inc. (the "Company") on April 21, 2021, subject to stockholder approval of an amendment to the Company's 2020 Omnibus Equity Incentive Plan (the "Amendment"). The Company's stockholders approved the Amendment on July 1, 2021.
F2 25% of the options vest on July 1, 2022, and the remaining options will vest in 36 equal monthly installments beginning on August 1, 2022 as long as the reporting person remains continuously employed through each vesting date.