Punit Dhillon - Sep 27, 2021 Form 4 Insider Report for Arch Therapeutics, Inc. (ARTH)

Role
Director
Signature
/s/ Punit Dhillon
Stock symbol
ARTH
Transactions as of
Sep 27, 2021
Transactions value $
$0
Form type
4
Date filed
10/1/2021, 08:11 AM
Next filing
Dec 16, 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 ARTH Stock Option (right to buy) Award $0 +250K $0.00 250K Sep 27, 2021 Common Stock 250K $0.10 Direct F1
transaction ARTH Stock Option (right to buy) Award $0 +250K $0.00 250K Sep 27, 2021 Common Stock 250K $0.10 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Punit Dhillon is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 The option was granted pursuant to the Issuer's 2013 Stock Incentive Plan (the "Plan"). The option shall vest equally on each of the first 36 month anniversaries of the grant date, subject to continued service to the Issuer through each vesting date. In the event of a Change of Control (as such term is defined in the Plan), 100% of the number of unvested shares then subject to the option shall accelerate and become immediately exercisable.
F2 The option was granted pursuant to the Plan. 1/3 of the option vested on the grant date and the remainder of the option shall vest equally on each of the first 24 month anniversaries of the grant date, subject to continued service to the Issuer through each vesting date. In the event of a Change of Control (as such term is defined in the Plan), 100% of the number of unvested shares then subject to the option shall accelerate and become immediately exercisable.